Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Scores
Profile Image

Question By
sgrafins

1 Contribution
0 People Helped
May not want to use Vantage Score 3.0 as an accurate gauge
Think you need to reconsider using Vantage Score 3.0 to display credit scores. I was thinking that it was an accurate reflection of my credit score. Over the last year or so, been taking care of business with my credit. Looked into applying for a Personal loan through Lending Club. My score on CK (under the TransUnion logo) showed up as 703 (GOOD). Thinking, cool. Applied for the loan, was approved, got my funding and documents, and my TransUnion score that they used to grant credit was 673 (FAIR). Looked under the Vantage Score Archive, and sure enough, It showed both scores as stated above. Vantage Score is misleading, at best.

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-5 of 5Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
4 Contributions
24 People Helped

Some should tell Creditors

I hear you guys, I really do. I've been all over the credit planet trying to find as much info as possible to fix my credit.
But maybe someone needs to tell the Creditors that Vantagescore is legit?

Because they don't seem to think so.

I've had my credit pulled from Barclays (TU) on a last inquiry, and even then they gave me my Experian score (589).

I honestly would not have attempted to open a CC with a score that low, but I didn't think they would look past my TU (According to Vantagescore I have a 667TU). I know my Experian was low, but figured Barclays pulls from TransUnion so I had a good chance.

Apprantly they DO pull from TU but my 589Experian overrode that.

It didn't hurt more than my feelings and a 2pt VS drop, but I'm guessing that doesn't matter since VS doesn't seem to be legit in the eyes of real Creditors.

4 Contributions
24 People Helped

Someone should tell the Creditors

I hear you guys, I really do. I've been all over the credit planet trying to find as much info as possible to fix my credit.
But maybe someone needs to tell the Creditors that Vantagescore is legit?

Because they don't seem to think so.

I've had my credit pulled from Barclays (TU) on a last inquiry, and even then they gave me my Experian score (589).

I honestly would not have attempted to open a CC with a score that low, but I didn't think they would look past my TU (According to Vantagescore I have a 667TU). I know my Experian was low, but figured Barclays pulls from TransUnion so I had a good chance.

Apprantly they DO pull from TU but my 589Experian overrode that.

It didn't hurt more than my feelings and a 2pt VS drop, but I'm guessing that doesn't matter since VS doesn't seem to be legit in the eyes of real Creditors.

Top Contributor
7353 Contributions
3808 People Helped

The credit score shown here is for use with the interactive financial tools, as part of your credit education.  It is not reported to anyone else. 

Top Contributor

Reply by
icuhowie

1758 Contributions
3022 People Helped

Vantage Scores are used out in the wild.

Vantage Scores are not just for education. 

Top Contributor
1758 Contributions
3022 People Helped

You think you were mis-lead, but I would so no you were not.   People need to be better educated on Number of DIFFERENT Credit Scores they have.

There is NO ONE OH MIGHTY Credit Score,   THERE are LOTS of DIFFERENT Credit SCORES and you can not compare them to one another UNLESS you know what Score Model they are, and version of Model. 

I was amazed to find out today that Capital One still uses the VantageScore 2.0 ( or 1 , but I know it's not 3.0 ) from Experian for folks that apply for Kohls Credit Cards. 

I was bugging CK to goto the Vantage Score 3.0 for over a year before they did make the move. 

Top Contributor
227 Contributions
88 People Helped

icuhowie is right. vantage 3.0 is a REAL credit score. it's a model that is gaining in populatity and is used in credit decisions by banks. however, cap one uses many different models... for some of their credit cards they use FICO 8 and 4. for their free creditwise score monitoring, they use the vantage 3.0. 

Results 1-5 of 5Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.