What Is VantageScore 3.0?

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What Is VantageScore 3.0?

There are so many credit scoring models out there, it's easy to lose track. As a result, the VantageScore may be a bit of a mystery to you. We're here to shed light on this FICO Score competitor and its latest model, VantageScore 3.0.

First off, you may be thinking, "Wait, I have more than one score?" Yes, you do. With dozens of lenders creating their own models based on the type of credit an applicant is looking for, you could easily have hundreds of scores. Add the multiple versions of scoring models the credit bureaus create, and you can see why there isn't one single score to rule them all.

There is only one score model that was created by the major credit bureaus though, and that's where the VantageScore comes in. The first version of this generic scoring model was introduced in 2006 and developed by the three major credit bureaus - TransUnion, Equifax and Experian - with the goal of providing more consistent scores.

So what is VantageScore 3.0 all about? Let's get right to it!

Scores More People

VantageScore boasts that its 3.0 model is more predictive and can score up to 30 million more people than other models. It accomplishes this by incorporating a broader set of credit-related data and reviewing credit activity from the past 24 months. In some cases, the model can look even further back than that too. Consumers who forget to use their cards will be happy to hear that the model also utilizes credit activity data that's older than 24 months but still predictive of possible credit risk. This is a boon for many consumers who may have "thin file" credit reports, are new to credit or who are rebuilding their credit health.

Utilizes A New Scale Range

When comparing VantageScore 3.0 to 2.0, the most visible difference is probably its new scale range. While previous versions of the VantageScore used 501 to 990, the new scale ranges from 300 to 850, which is more aligned with common expectations. Jim Akin, senior manager of digital communications at VantageScore, explains that when they consulted consumers, people said they were more familiar and comfortable with the 300-850 scale range. In addition, many lenders use automated systems that accept scores that line up with this range.

Says Goodbye to Paid Collections

Collections accounts that have been reported as paid in full will no longer factor into your VantageScore calculation. While paid collections accounts can still remain on your report for up to seven years, the decision to not count them in the VantageScore 3.0 model remains a big deal. With this new model, consumers trying to move forward from past mistakes with debt won't be quite so burdened on a score level, at least.

Weighs Familiar and New Factors

The VantageScore 3.0 model covers very familiar territory and also breaks some new ground. Here, we rank the factors that impact the score. Keep in mind that each factor can be weighed differently, depending on your personal credit situation.

  • Payment history (extremely influential): This factor still comes in at #1 as a predictor of risk. Late payments remain on your report for up to seven years for a reason. Creditors use your score to help determine how likely you are to pay your debt, so a history of untimely payments usually raises a red flag.

  • Age and type of credit (highly influential): This factor refers to your account mix and length of credit history. The key idea is to maintain a variety of account types, like credit cards and loans, over time.

  • Credit utilization (highly influential): Your utilization percentage is calculated by dividing your balances by your available credit. It's generally recommended to keep your balances under 30 percent of your total credit limit.

  • Total balances (moderately influential): This looks at the balances of both current and delinquent debt. Similar to utilization, reducing the amount of debt you owe can help improve your score.

  • Recent behavior (less influential): This factor looks at how many credit accounts you've recently opened and the number of hard inquiries placed on your file.

  • Available credit (least influential): This is the amount of credit you have available at your disposal.

As with other credit scores, VantageScore does not look at personal information, such as race, religion, salary, employment history and residential address history, to calculate a score.

Bottom Line

More than eight billion VantageScore credit scores were used by lenders and other industry participants, including 20 of the top 25 largest financial institutions in the U.S., in the 12-month period from July 2015 to June 2016. For you, this means that if you haven't already been, it would be wise to start paying attention to your VantageScore credit score.

If you pull your VantageScore credit score from different bureaus, you may notice that they might not match. The scoring model was developed to apply consistently across the three major credit bureaus and was created using credit information from all three companies. However, the fact remains that information between bureaus doesn't always match for various reasons. And remember, it really depends on your personal situation. If you're applying for a credit card, a lender may use their own particular spin on a model. But if you're seeking a mortgage, a lender can use an entirely different score.

With so many different scoring models out there, what matters most is the information in your credit reports. With Credit Karma, you can access your updated TransUnion and Equifax reports weekly to help you track changes over time.

About the Author: Charmaine Ng is the Communications Coordinator at Credit Karma. When she isn't writing her way through life, you can find her reading about the latest in entertainment and watching television almost every night of the week. Say "hi" @noodlemaine!

Editorial Note: The opinions you read here come from our editorial team. While compensation may affect which companies we write about and products we review, our marketing partners don't review, approve or endorse our editorial content. Our content is accurate (to the best of our knowledge) when we initially post it, but we don't guarantee the accuracy or completeness of the information provided. You can visit the company's website to get complete details about a product. See an error in an article? Use this form to report it to our editorial team. For questions about your Credit Karma account, please submit a help request to our support team.

Advertiser Disclosure: We think it's important for you to understand how we make money. It's pretty simple, actually. The offers for financial products you see on our platform come from companies who pay us. The money we make helps us give you access to free credit scores and reports and helps us create our other great tools and educational materials.

Compensation may factor into how and where products appear on our platform (and in what order). But since we generally make money when you find an offer you like and get, we try to show you offers we think are a good match for you. That's why we provide features like your Approval Odds and savings estimates.

Of course, the offers on our platform don't represent all financial products out there, but our goal is to show you as many great options as we can.

All Comments

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1 Contribution
591 People Helped

Helpful to 591 out of 838 people

Hmmmmmmm.........Mortgage lenders care not at all about the VANTAGE score.....it is all FICO.

I making VANTAGE scoring your backbone credit score you have just torpedoed the CreditKarma site !

VANTAGE means nothing !  A weird competitor to FICO......hope the kickbacks are good !

You website is now USELESS to me.......and most Americans.....

Bye bye !!!!

Credit Karma Team
Top Contributor
2949 Contributions
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Helpful to 735 out of 1018 people

Hi Aviator20202,  Thanks for posting. Our previous score model was not a FICO score. It is true that FICO is the most widely known score provider on the market, and often used by lenders. We provide the VantageScore 3.0 which is also used in lending decisions by major banks. One of Credit Karma’s primary goals is to bring transparency to this confusing industry. There are dozens of credit scores out there provided by different sources. FICO is one brand of score, and even FICO has more than 50 different scores. The score that consumers see is never the same as what banks see when making a lending decision. VantageScore 3.0 is a collaboration between all 3 major credit bureaus and we believe these scores, combined with our weekly free credit report and free credit monitoring, will be useful to consumers. 

Reply by
ARea79

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Helpful to 118 out of 188 people

Um, last I checked Karma simply provides you the Vantage score as a bonus for those that care to also monitor the Vantage score.  Nothing wrong with ignoring that fact if you choose though.

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Reply by
HeavySnarker

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You're gravely mistaken if you ever thought CreditKarma gave out true FICO scores. It was always an estimate.

Reply by
zprince89

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Bye! Don't come back if you can't be happy with a free estimate. 

Reply by
impatientmiss

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Lets hope you are right.  Working in the business though, they use all 3 bureaus for scoring.  So this has got to mess with Fico too.  crazy.

Reply by
mailman249

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I don't understand all of the complaining. The score you get here is only an indication of your credit risk. My old score was about 760 and my new score is about 810, which about matches the fico score that I last got from my bank. As the author writes, all banks have their own methods of scoring people which might include fico and also include vantage and other scoring methods.

Reply by
dquack1113

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Your Vantage score is crap, my fico is 697, 701, 723. your vantage score for me was 587 and it said i had a poor credit rating, credit karma is a joke!!! Trys to scare people into getting credit cards with high intrest. Fico is what banks use not vantage!!!!! DO NOT BELIEVE YOUR CREDIT KARMA SCORE!!!!

Reply by
jackel06

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I can't even find the vantage score in my account like before. This really is confucing to me and I am sure many others that can't find the vantage score anymore. It seems like every week or two, the site changes and we have to learn it all over again. Also not finding the things that matters has also been relocated under a different tab or completed removed.

I do appreciate the free credit info, so please listen to your subscribers on things we like and that could make your site better.

Reply by
Ufunny2

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Go ahead and join myfico and pay at least 20 bucks per month for a score that your credit card will provide for you.  Credit karma is a great free site!

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Reply by
MoonWoof

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I have yet to speak with a creditor that uses Vantage, Transunion or Equafax. That's not to say that none of them do. Those whom I've spoken to for the most part use FICO and 2 that say that they use both FICO and Esperian. Credit Karma is always lower than those scores that lenders have reported receiving. As a matter of fact, My monthly FICO score that I receive on my statement from a major (well known) Credit Card company is always far higher than anything that I've ever seen on Credit Karma and this VANTAGE Score.

I've also heard it rumored that since Credit Karma provides this reporting service free of charge and makes their income from advertising on their site, that scores are intentionally lowballed. Most of your advertisers are Credit Card companies seeking to help people increase their credit score via high interest credit card offers. I know that whenever I check my score there's always some sort of credit card, credit counselling service, legal representation services, etc..... that's being advertised or pushed.

Basically, you should take this VANTAGE score with a grain of salt, it's pretty much worthless and nothing to get worked up about regardless of what your score may be. They're just pushing the afore mentioned credit related services. It's nice to check in from time to time just to make sure that there aren't any major changes that may throw up a red flag that you may be unaware of. The balances are never correct, but at least you'll know that somethings up if they're off by a large amount. That would garner my attention.

Other than that, trying to correct any errors to your credit report, namely with Transunion is next to impossible. They had one of my former addresses incorect so I corrected it online, they got it wrong again, so I called, they got it wrong again, so I wrote a letter, they got it wrong again, so I wrote another letter, this time they just removed it entirely from my report, hahahahaha......... Even funnier, this was all through Transunion, but everything showed up identically on my equafax report also and I wasn't even in communication with them concerning this discrepenay. They to have removed my address, hahahahaha........ Oh well, they're one in the same. What a joke.

Reply by
jamesfacteau

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could not agree more with the above statement. CK is turning into a totally useless website.

Reply by
bshrum

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Aviator20202 hit the nail on the head.  I've commented about this ever since CreditKarma switched to the Vantage 3.0 score.  TransUnion is, without a doubt, THE most useless score out there.  The Vantage is its flagship product.  I've been building my credit score for about 2 years now.  When CK first switched to Vantage, the score it reported was about 75 poitns or so below what it was prior.  One day I was in the high 600's, next day I was in the low 5oo's.  As far as my Vantage score right now, it STILL has not broken into the 600's.  My other other scores, however, FICO, Experian and Equifax, are ALL in the high 600's and low 700's.  For my purposes, the Vantage score and TransUnion are a pain in my side and totally useless.  CK's rationale for going to the Vantage was never really explained well, so we can only assume that TransUnion made them a really good deal.  The ONLY reason I still maintain my account with CK is because it is free.  I can easily get really useful scores through my credit cards' websites and through credit.com, which, BTW, is also free.  I love the service CK provides, but they REALLY need to rethink the move to Vantage.  Use the National Equivalency Score (Experian) if you want a more balanced tracking score.  

Reply by
zebra9999

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THE REAL BOTTOM LINE IS:  If the score you see on Credit Karma is not the same score your creditor's see's, Then what is the point of this website ????????

Reply by
john69holt

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Agreed !

Lower Score = Higher Interest Rates

Just a scheme to make more money off of the consumers. 

Reply by
TeeQuake

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Agreed, Aviator20202. It's very annoying to hear and read about Credit Karma's "free" scores and then learn that they are not providing the all important FICO scores. I wondered why my Credit Karma scores were always about 30 points higher than the free scores I am suddenly receiving from some credit card providers. Initially, I contacted the banks and tried to dispute their lower scores, using my Credit Karma score as, "what I then thought was some sort of reliable benchmark"; but like many things in life, it seems that the harder to inflate, lower, credit card scores, are closer to the scores that loan brokers say they use, to wit: Equifax, TransUnion, and Experian, FICO SCORES. At first blush, I'd prefer Ms. Ng's analysis to prove correct, except that would  mean everybody else's Vantage scores are ALSO higher and it remains elementary that,  "a rule that is good for everything, is good for nothing". 

Reply by
officerholland

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I just found out that back in 2010 some one used my name and ss address and went to animila hospital big chatge they left i disputed as fraud they said the claim was verified funny thing the howpital says no way my husky is no match for 18 yr old cat!!!! it was manley animal hospital bartleville ok    getting lawyer and make example out of 5 of the theft on my credit

Reply by
hytf

8 Contributions
5 People Helped

Stop Making Sense... Its so Un-American...

Reply by
onephas3

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This may not be true for everyone... but my FICO score is actually higher than my Vantage score. I'm always pleasantly surprised when I buy a car or house. My FICO usually comes in 15-35 points higher than Vantage. If anything I'll continue to use this free service as a decent proxy for the neighborhood of my FICO score.

2 Contributions
3 People Helped

You are corect we need FICO or similiar as well as Advantage score for Credit Karma service to be of ANY USE WHAT SO EVER!

Reply by
ChoicesGJ1

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1MAR2016

TOTALLY AGREE with Aviator20202! My score went from middle range GOOD to POOR after implementation of the Vantage System. Previously to the change I received an email from CK congratulating me on my  Year 2015 use of credit and my good score. And now this shock! Perhaps CK, as Mr. Trump assumes, "we're undereducated". I'm pretty smart CK! GOODBYE!!

Reply by
StacieHudson13

1 Contribution
0 People Helped

Actually the models used by lending companies run 20-30 points lower then what you see, for instance looking straight at transunions website. So this model is actually closer to the score you have if you were looking to get a mortgage. 

Reply by
leeton

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0 People Helped

Enter Your ReplyI have three FICO scores  in the 700's.  Your says Trans 597 and Equx 623.  

I think your scores are worthless.

Reply by
BSMITHJSMITH

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Helpful to 1 out of 1 people

MY THOUGHTS EXACTLY, I FOUND THAT OUT JUST NOW GOING THROUGH A MORTGAGE REFI.  CREDIT KARMA SAID MY EXPERIAN SCORE WAS 729 GUESS WHAT EXPERIAN SAYS ITS 664.  CREDTI KARMA IS SUPPLYING USELESS INFORMATION AND I HAD MADE A DECISION TO ATTEMPT A REFI BASED ON CREDIT KARMA'S INFO. 

THIS IS A HUGE DISSERVICE.  SHAME ON YOU!

Reply by
jortor

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Bye bye. dont let the door......etc.

Reply by
hector3134

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I agree, this is worthless, why use a model that is practically used by no one. I'm in the mortgage industry and I can tell you that vantage score is not used by any of the lenders I use. Why go backwards, when you can move forward. If you are in the process of getting a loan do not use the score in this site, it will be way off from where FICO will be. 

Reply by
stork4you

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Enter Your Reply  Amen, bro!!! You are exactly correct!!

Reply by
khaleesi767

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Seriously? You're getting a FREE credit report and score what are you complaining about? Would you like Credit Karma to pay your bills for you as well? I find this website extremely useful whether it uses Vantage scoring or FICO it really doesn't matter . Because in the long run if your number isn't where it needs to be here, then you probably AREN'T going to get a loan Aviator20202. This is just a FREE TOOL made to be USEFUL TO THOSE who WANT it. If you don't like it simply don't use it. Don't complain, you didn't buy it. Take your frustrations out elsewhere. Have a nice day. :o)

1 Contribution
479 People Helped

Helpful to 478 out of 644 people

I have a good feeling that Credit Karma is about to rapidly lose a lot of their users.

Reply by
JeremyGolden

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Helpful to 329 out of 451 people

Agreed they are about to loose me this new system is a bunch of crap. I had like 3 years worth of credit monitoring data with them that is just gone now.

Reply by
dsmith43081

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Helpful to 413 out of 569 people

My 767 just went down to 697 with no changes and I am leaving this site and going to pay for Fair Isaac to get a fair score.

Reply by
NYangel58

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50 People Helped
Helpful to 50 out of 85 people

Enter Your Reply you are not kidding, this is insane

Reply by
csc2017

4 Contributions
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Helpful to 82 out of 111 people

30 days to return to FICO or good bye. you had a great business going here. Some jackass decided to ruin it for you.

Reply by
Cdmobile1

2 Contributions
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Going  to lending tree it's free also. Go back to old way I may come back

Reply by
taurus519

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Why?  I think is the only site we can access for free and now they have not only credit scores, but full reports

Reply by
charisma341

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I always check my score every Thursday morning on my cell phone. It was dissapointed my score drop by 30 points from 795 to 765.

Reply by
mad666max

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Thanks Credit Karma! Not only will your new switch to Vantage scoring loose your users but also all those banks that advertised on your site. There goes your revenue.

Reply by
12121887

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Helpful to 16 out of 20 people

Uh... yeah!

I get a free FICO through Discover scoring me much higher than this V 3.0, and it's from Transunion which is still reporting FICO. I also did a score simulator through Toyota's website, and sure enough... they are pulling FICOs not Vantage scores.

This is what happens when something good gets commercialized like CK has, it has been bought and paid for to the highest bidder... unfortunatly, we the consumer (albeit a free financial indicator) will get the shaft in the end as this product wil eventually become worthless to monitor. FICO holds 90% of the market share... Vantage is a lousy attempt of the bureaus to create their own algorithym to reduce overhead.

CK, this scoring model sucks, and you should follow the trend, not the money. Money having influence, it has had very little here in terms of market share and V 3.0 is holding about 5%, just horrible.

Reply by
koffeeandme

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Enter Your Reply Since they changed, my score went down 63 points!

Reply by
michiely

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Can't begin to tell you how much I agree....this Vantage bites a big one. We bought our debt down, dropped debt to income substantially...credit score dropped from 750 to 666. This crap is evil. Format change sucks, functionality sucks, results suck. 

Reply by
zohrin

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Why?

Reply by
RegrowthA

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Enter Your ReplyWhy wouldyou say that without offering any reason or evidence?

Reply by
Ecohawk

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Enter Your Reply I think I have been keeping track of credit longer than anyone here. Regardless, you are over looking some key factors when talkin about FICO.  1) I  have a FICO account and their score is the same as Equifax. In fact on their site it notes that it comes from Equifax. 2) Equifax BOUGHT OUT FICO about two years ago 3) FICO uses "predictive" scoring which means they predict to customers what they think you will do in the future. If you are trying to improve your score you cannot be that predictable. The bestis to pay the balnce as near to -0- as you can for at leastt six months. 4) Neither FICO or Equifax helps you with a home mortgage. 5) Trans Union helps the most if you are in the Midwest. Equifax is best in the East and South and Experian is the one used most in the Southwest.  Just because YOU are not familiar with the new score system DOES NOT MEAN the business world is also. FICO does not have the clout it did 5 years ago.

Reply by
impatientmiss

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This Vantage score is crap.  It dropped my Trans Union score over 106 points.  My experian score is 100 points higher.  There goes trying to buy a house.  I work for one of the 3 major bureaus and mortgage will use a tri merge report that will factor in these two stupid scores.  Really mad.  I have no derogs on my credit report.  Within a week this has dropped that much.  What the hell?  Go back to your old scoring method.

Reply by
jimross54

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This new site is a crock of crap!

Reply by
seacruzin

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This is crazy with this new vantage scoring, I've been working on fixing my credit, brought my score close to 700 now dropped more then 100 points WTF. This new system sux, say good bye to Credit Karma!

Reply by
PMChapman

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On the old system, just two weeks ago my credit score was 802, now it's 742. This doesn't make any sense. 

Reply by
Kingdlo

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Just want to say that for me personally the scores listed in the app using Vantage Scores were only 1-2pts off my FICO score that I got from one of the major banking companies in the US. 

Reply by
lilerinmommy

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Enter Your Reply i feel the same way

Reply by
quacked2

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something was put on my report which my name is not associated with nor was it co-signed by me

Reply by
heather2spoil

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My score also dropped dramatically, despite the fact that I've never had so much as a single late payment. Each time I log in (once or twice a month) my score is lower than the time before since this new Vantage 3.0 was implemented. This is ridiculous! My mortgage, my truck, my credit cards - all paid on time, every time. So why is my new 'score' complete crap?

Reply by
mk702

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I think I'm done with Credit Karma too. My score dropped almost 60 points on Transunion, and went up on Equifax. I called Transunion, afraid of fraud - they won't tell me my score without paying, but said that Credit Karma is way off and not to trust it. Credit cards are now providing FICO score - think that's what I will use going forward.

Reply by
shannaura

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It wasn't Credit Karma who developed VantageScore 3.0, it was the 3 major credit bureaus.  I believe the main reason why Credit Karma is adopting it for use on their site is to help alleviate the confusion consumers experience from have two different score ranges.  300-950(or whatever it is) was so different from the FICO scores that it was leading consumers who didn't know the difference between FICO & VantageScores to apply when they weren't truly credit worthy.  The VantageScore 3.0(yes, I was annoyed to see my score down too) has a range that parallels the FICO which is a good thing, because even though 1 billion applications were scored using the VantageScore, over 11 billion were still scored using the FICO.  I'm also of the mind that once a collection is paid in full, it ought not to remain on your credit report or at least shouldn't factor into the score.  I've gotten past my initial dislike of the VantageScore 3.0.

Reply by
bobderek

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I know my Fico scopre and my Vantage 2 and 3 scores and there is a wide disparity. Some sites post Fico scvortes and those sites are more usful.

Some of the reporting is a little nuts for Vantage 3 and Vantage 2 scores and some of the basic information on this site is incorrect. Transunion is usually the biggest problem.

These scores are hardly used and not worth paying attention to. If you are really interested in your credit score find a way to get your Fico score.

Reply by
bobderek

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The Vantage scores are meaningless. No one uses them. It's just an attempt by the three credit companies to take control of things and it is non working. The comment later from a Credit Karma employee about banks using the scores is inaccurate. Youu need to know yoor Fico Score to figure out where you stand. 

Reply by
EDDUNN1

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Within the last few months, I have had 2 credit card companies pull my score, and 2 mortgage companies. They all used the FICO. I don't know which banks use the Vantage score, as CK and their sponsor banks claim, nor do I care. Fico has been around a long time, is the standard in the industry, and by all accounts is the only score that matters. We all know that different lending institutions use different models, BUT, they all use a FICO model. These Vantage scores are useless. It's just a way the credit bureaus are trying to get out of paying Fair Isaacs user fees.

Reply by
ChureceNichol

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Im not sure what is up with credit karma but my Transunion score on here is 100 less than when I went to the actual transunion site so this make me question the Equifax score 

Reply by
dnkcummins

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I like the new system.  It is much more accurate to my score that I got from my bank.  The old system kept me down in the low 700's.  When I opened up a credit card, they gave me my score and it was closer to 800.  This new Vantage system shows me that I am closer to 800, which matches my bank.  The website is also easier to use and I love that it shows info from more than one reporting bureau.  It makes it more reliable, in my opinion.

Top Contributor

Reply by
finlander2013

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i believe you are on the right track . with this wacko update they have / it is so difficult to do anything or get the right updates..they are a free site , so i guess you have to realize that anything for free isn't that up to date at all........worming your way thru this vantage bull is tiring and go back to the old credit karma ......at least it had better and easier ways to show your future scoring...thier site changed but, the real things you need are still not working like credit score stimualtor !!!  next they will start showing more negative scoring ..........it wouldn't suprise me.

Reply by
Tjent1

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The Vantage score is, I believe, highly misleading. Providing a score under the names Eqifax of Transunion represents to the typical reasonable person that these are the scores given by agencies. They should at least be approximate. 

My "Equifax" score on Credit karma is 775. Upon applying for a car loan where the lender pulled my credit, the actual Equifax came in a 699. This was one point too low to qualify for the best rate, and the next best rate was undesireable. A 76 point difference is huge and unacceptable regardless of the site's somewhat fine-print explanation that the Vantage Score is not quite the same as the real FICO scores. One also suspects that the Vantage score is not only inaccurate but biased on the higher side compared with real FICOs (as in my case) so that CreditKarma subscribers will feel better, though erroneously. 

So beware: lenders do not pull your Vantage score. They have likely never heard of it. 

Reply by
Lexi22b

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Enter Your Reply  very helpful thank you

Reply by
1234usmell

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This Is Not True. The Real Facts Of The Credit Reporting Services Changing All The Time Is So Creditors Can Screw You In The ***. Today The Younger Generation Don't Stand Up For ****. That Is Why This Crap Happens Over And Over Again.... I Will Tell You Also Don't Think There Is Any Such Thing As A No Intrest Loan. Creditor Charge Dealears At Least 18% For Offering No Intrest Loans. The Dealer Is Told To Put It In The Cost Of The Products You Buy. So Do You Like Getting Bent Over. Maybe You Will Start Standing Up For Your Rights Not To Be Screwed.

Reply by
marday

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Enter Your ReplyWhy would you say such a thing without a reason? That is stupid. 

Reply by
garyo51

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I will tell you why. I have checked with each of the three credit reporting agencies and Credit Karma is within 1 to 3 points of my true score, and i had to pay for that imfromation. But with Credit Karma i don't.

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I have had the same issue. I have had a credit score in the high 700's for years, I look at it today with the new Vantage reporting and it's dropped 101 points! And this is supposed to be reliable? I would expect a swing of +/- 10 points but 101 points? Something is not right.

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Reply by
CKCharmaine

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Hi jbikeski, I understand you must be concerned about this drop. he VantageScore was created using data from all three credit bureaus, not just TransUnion, so a change to your score is to be expected to some degree. If you have additional feedback, please send it over to support@creditkarma.com. Thanks!

Reply by
cvb23

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Same here. Credit Karma's old score actually matched what was sent to me by lenders who checked my credit. Now its 100 points off.

Might I suggest that Credit Karma shows both the old and new systems. Honestly averaging out all three credit scores only means the score you are showing us isn't what any leanders will see no matter what bureau they choose. At least I knew the old score was accurate for one of the credit bereaues.

Reply by
impatientmiss

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Mine did the same.  I went and checked my Fico Score and I am showing good,  Experian is showing good.  Equifax and Transunion are the only ones showing me as a poor credit risk.

Reply by
Jomarian

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Enter Your Reply

i experienced the same thing.  I applied for an auo loan in Feb. 2015 and received the loan.  I just checked my vantage score which was over 900 last month and is now 816.  I have not had any missed payments or added credit other than the auto loan.  How was my vantage score lowered by ove 100 points?

Reply by
2crue4u

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I 100% agree with you. I dropped 100 points in one day from "excellent" to "fair" without doing anything different and being in the high 700's for 2 years.  How is this going to affect our future credit worthiness.  How do you recover from such a huge drop? 

Reply by
lena1038

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Enter Your Reply I agree

Reply by
eprcrscpa

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I agree. I looked at the Vantage score for TU and there is a 144 point difference than Equifax. Then I had 2 collections removed and my score only increased 1 point. However, if a negative infraction happens it will drop at least 11pts but never just 1 point. It's almost as if it seeks to keep a person's score down. I think it's best to follow your FICO score of all three agencies also. I've seen a lot of tricks with my report from accounts being added, then removed after the date of scoring to accounts that were catergorized as mortgage accts and they were installment loan accounts. Of course mortgage account scoring has greater impact. I'm now watching all three weekly and disputing/requesting they make corrections.

Reply by
heather2spoil

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Same here. Scoring between 693 and 720 FICO's from the actual credit bureaus. I come on here and the VantageScore is well under 600. What a joke.

Reply by
hytf

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Obviously Credit Karma is Cashing in SOMEHOW...

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What better illustration that these credit scores are an illusion than this? I receive my FICO score free on my DiscoverCard statement, and it has remained steady for months. This new VantageScore shows wide swings despite pulling from the same information pool. It may be a competitor of FICO, but it seems to me that's it's much less reliable.

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Reply by
CKCharmaine

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Hi fivedaysadventure, thanks for bringing up these points. The VantageScore scoring model was created using data from all three credit bureaus and from specific timeframes. So it wasn't created using the same information FICO used. The VantageScore can also be more predictive because it reviews more months of tradeline data.

Reply by
silveira13

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I agree that these scores are outrageous. Previously the score provided to me on this page, was very similar to my FICO score and also, about 30 points lower than Banks, car dealerships etc would tell me I came up as. I had been in the excellent credit range since 2004. My fico score still has me in the Excellent range, but despite having no major changes to my credit, my Vantage score is in the fair range. Pathetic at it's claims to more accurately reflect credit worthiness. I love how the vantage score boasts not holding against somoene a collections debt once it is paid in full. Does prior defaulting not demonstrate a lack of financial responsibility or ability to pay debts in the past? Sounds like the real changes are increasing the credit worthiness of those who do not have a long credit history, and also forgiveness for those who have previously defaulted, and reducing credit worthiness for those who have shown impecable financial maturity and ability to pay for others who have never missed a payment or defaulted in any way, nor open excessive credit lines. In 17 years, I have never once been late with a single payment. I had never had a negative remark, I have had a mixture of all types of lines of credits and I have successfully managed my debt. A while back, I went back to school taking out several student loans (which increased my number of accounts reported, thus lowering average account time substantially to about 6.5 years (now) since each semester is a new loan- this never hurt me before, but now since it is less than 7 it falls in the fair range). A more accurate relflection? No. I rightfully belong in the excellent tier and the vantage puts me as a run of the mill consumer with a rating of 'fair'. I would never open or take credit I couldn't not pay back. There should be some weight to the total lenght of credit history and absence of any negative remark to balance the "short" lenght of credit history. At 600 payments all on time, what makes me likely to miss one? Thank goodness FICO still exists.

Reply by
Steff262

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My credit scores jumped about 60 points,while my husbands scores dropped almost 100 points with no change in credit usage for either of us,plus all loans or credit we have is joint. I know the scores are informational purposes,but I don't see the consistancy here.

Reply by
JPinNC

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Discover Card provides you with a FICO score they get from Transunion.   Look at your statement!

Reply by
eprcrscpa

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In consistent and confusing it is. This model seems to be based on the best prediction of future behavior is past behavior which is a very negative way of viewing things and suggests that people and situations don't change. Many work hard to correct their credit but it seems that one blemish will drop a score 11 to 60 pts easy but to remove 1 or 2 negative remarks and the score only increases 1 pt is ridiculous! I've created a spreadsheet to track these changes weekly as I now montior my score and report weekly, since recongnizing how accounts are added then removed after a scoring date, accounts are catergorized wrongly (which greatly impacts a score) and other issues.

Reply by
hafizah

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I have been monitoring my credit report on the site and my Discover Card and my FICO and Vantage Score are identical for Equifax and  slightly lower for Transunion. That has always been the case when monitoring my reports through FICO.  I will receive three different scores and I know this is because some companies will not report to all three companies.

My suggestion is to follow both if there is such a huge discrepancy.  I never had a problem with my scoring with Credit Karm; it has pretty much been accurate and I am able to easily monitor my accounts. Also, the updates on this account is weekly when others are monthly.

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Wtf is going on??? My Credit Score has been for long time very good almost excellent, and now dropped to very poor????  What the hell is going on? this website really sucks!!!!!!!

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Reply by
cooptdm

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It's your credit ...look at the 5 areas that Vantage Score 3.0 scores!

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Reply by
CKCharmaine

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Hi Nikusasoop, I'm sorry for the confusion. I know it's hard to see the change to your score. We're slowly rolling out the new VantageScore 3.0 score (provided to us by TransUnion) and replacing the TransUnion New Account Score. The VantageScore factors in slightly different components, so the scores won't exactly match up. If you have any other feedback to share about the beta experience, please email us at support@creditkarma.com. Our product team is listening.

Reply by
Commonwealth4544

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Same here -- this is garbage.

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Reply by
photopoet

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Exactly what happened to me -what is worse for CK is my score remained in the same range for several other sources including FICO.

Reply by
milest

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Enter Your Reply This "new" vantage 3.0 is deeply flawed. My score dropped by 30-40 points and my wife's score shot up 100 points. She ran all her cards over the max then never paid again, except one On the other hand Ive never even had one late payment. She has a bunch of derogatory marks and I have 70% utlilization  so according to Vantage we are now equally "poor" cerdit risks!!! What a load of crap.

Reply by
SouthernRock1

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Odd ! This site and TransUnion gave me scores then I went to get a home loan and it was 140 points lower! They told me to ask for my money back from the credit monitoring site ($19.95/month). Paid high interest for car note, too!

Reply by
janisum

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We understand your frustration. Same thing happened to us and we are in the midst of getting preapproved for a mortgage loan. We are not very happy to find our actual score used by lenders is almsot 100 pts. lower than given by this scam...

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I was shocked! Why did you change your format!!!!!!  The other was so much better!

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Reply by
CKCharmaine

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Hi stimpyjk, we're always working to improve the site and make it simpler and more helpful for members. I understand change can be difficult, and we welcome constructive feedback. Our product team is listening! Please email support@creditkarma.com with the subject line "Feedback on the redesign". Thank you.

Reply by
jemma2014

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Enter Your Reply I agree, on experian my credit score is 773 and w/your new vantage scoreing system my score plumented over 100 points so it looks as if I do not pay my bills on time or all of the hard work I have done to keep my credit is EXCELLENT standing went out the window with your new scoring system. Scary...

Reply by
budakai1A

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Enter Your ReplyI have stayed with the same routine:::::: paying all my bills completely LEAVING 0 NO BALANCE as I alway have done only to see my credit score drop 10 points (according to CREDIT CARMA's) way of scoreing WTF????  my banker says to go to a reliable source.  Oh, my credit score is/was in the 8 hundreds.

Reply by
jackel06

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Agreed!

Reply by
sloppndog

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this is the new monkey score , dey gotta figu n ebt pays n celfones

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I'm feeling bad for Charmaine-but the comments here are accurate-the new system is panic-making and really inaccurate. My credit is decent-730's on Disover presentation of FICO. Here I am a POOR rating. What's worse is I've had a history of lower scores and have worked diligently to rebuild this to the 730's level, and my goal is to break 800. 

And Credit K has me in the 630 range? The points w the new system are BS-and no amount of cajoling will fix the marketing blunder here-folks will be leaving in droves unless this switches back Jan 1, 2015. Seriously-it's horrible.  I also am amazed that the 'support' email is being offered, as no one replies to this and Credit K has no link accessible on the site. Then if you want to quit-that's even hard to find and the message repeatedly shows-you can't come back for 6 months...back to what? BS and inaccuracies? It's a shame actually as this had been helping me to track my lines and ratios-I'll just end up doing this independently I guess.

Par

Credit Karma Team
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Hi prutterphd,

Thank you for your feedback. I'd like to address your concerns about the support email - all inquiries are replied to within 2 business days by our support staff. If you did not receive a reply, please let me know and I will be happy to investigate further.

As I'm sure you already know, Credit Karma does not calculate any of the credit scores we provide. They are calculated by TransUnion. I understand it is frustrating to have many different credit scores, but that is the reality of the credit industry. We believe the VantageScore model will be more useful to our members as it more closely resembles models used by lenders. We will not be reverting to the previous score model.

Again, we welcome any additional feedback you would like to provide. Keep in mind that we are slowly rolling out the new version, and there is more to see. We think you'll like what we have planned!

Reply by
homework1

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Enter Your Reply   same here, can't see a score go from 712 to 590 in less than a week?.....was good, now poor....and I have changed nothing.....not working for me

Reply by
greatdanemom

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From the Credit Karma Team rely "We believe the VantageScore model will be more useful to our members as it more closely resembles models used by lenders. We will not be reverting to the previous score model."

What would be more useful to your member would be to have both the FICO and Vantage score for us as you did before. Several months ago you had both scoring models. How is taking away the FICO model "more useful"? Is having only the VantageScore more useful than having the FICO and VantageScore? I don't see your logic! When you had both I would consistanly see about 150 point difference between the FICO and Vantage (FICO being the higher one). Since FICO is more used it is more useful.

Also how is it more useful now that the years worth of trending and data was just erased. It was a much more useful site prior to this.

Reply by
bob5191944

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I've been with Credit Karma for quite some time and watched how scores increase due to inquiries, usage, length of held credit cards and percentage of usage.  My credit was below 800 for some time, but now it is above 830.  It's helped me get  good insurance and showed good credit when I needed it.  Keep a clean slate and your credit will show it eventually.

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Helpful to 86 out of 99 people

Wow.  The new vantage score dropped by score 100 points.  I was in the fair range, and now I'm "very poor".  Wtf :( 

Reply by
sdorman75

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The best part is, credit karma is telling me, "Your score went up! Congrats!"

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Reply by
CKCharmaine

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Hi sdorman75, I'm sorry to hear about that -- I know this must be confusing. We previously featured the TransUnion New Account Score. The new VantageScore 3.0 scoring model weighs similar factors, but is based on information from all three credit bureaus, so you'll see some natural variations. We'll hope you still find it useful. Please let us know if you have any further feedback!

Reply by
comment123

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Same here, terrible.....my history is supposed to be 7 plus years old according to them here?????

I have credit since the mid 1980's.....makes no sense....dont like it a bit....

Reply by
phoenyx46

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Me too. Thought I was finally getting somewhere - now I am worse off than before.

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Enter Your Reply

"fair range, very poor", same thing, your credit sucks regardless so quit bitchn

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I have had a credit score in the high 700's for years, I check mine today with the new Vantage 3.0 reporting and it's dropped 101 points! I would expect a swing of +/- 10 points with a new reporting system but 101 points? There is something seriously wrong with this model.

Reply by
miketwa1

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I agree with you 100% mine was close to 700 and dropped by 80 points...  Went onto my Discover Card and Credit One who offer credit scores, still the same near 700...  I dont know what the heck credit karma has done...

Reply by
Rhinopenis

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I agree. I have been looking at this site for a week with no changes, and their format changed while I was on it and my Transunion score was at 732 the whole time which was good, and as soon as they changed their format, I dropped down to 689 fair. Sucks. The other thing is that my cking and savings are listed under finances, and even after updating it two minutes ago, the balances are both wrong. Something IS wrong with this site and it's ability to properly update. I have 3 credit cards. Two have 0 balances and one is at $236 out of $1500 and they are going to tell me my credit is Fair?

Reply by
suzie692

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this is happening to me my score jsut dropped 71 [points in less than a week what the hell

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mine went from almost 700 to 632 why??? My score didn't go down on my discover card statment.

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Reply by
CKCharmaine

512 Contributions
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Helpful to 15 out of 76 people

Hi lilmgm, we're rolling out a new beta exerience that features a VantageScore 3.0 score provided by TransUnion. Your Discover card statement displays your FICO score. Scores can vary depending on the scoring model and the credit report information the score is based off of. You can learn more here: https://www.creditkarma.com/article/differentscores

Reply by
silveira13

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Don't worry. You're CC statement provided by Discover is your FICO score and it is provided by information from TransUnion. The new Vantage score 3.0 calculates your credit worthiness in a different way (weighting things more differently than priviously for one thing). Good thing FICO is used by most companies in the industry.  

From what I read, it looks like Vantage 3.0 scores are trying to be the score used by most, but it is not. They are redesigning how credit worthiness is granted, but there are some major flaws, IMO. My score dropped over 100 points!

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