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pennstate04

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real world vantage vs FICO, how they rate collections
Just wanted to post up some real world numbers for the good of the community. I recently had a collection removed from my TU report, and was waiting for my FICO 8 score to update so i could compared with CK. as you know, CK uses vantage 3.0, a model that is gaining in popularity, but is still quite behind the FICO models used. The FICO scores i get for TU come from discover, and they are the same scores used to grade credit applications.

So my vantage TU score sits at 720, nearly a 60 point jump after the collection fell off. this is a pretty big impact on the score, considering the collection is rather old, it was sitting right at the seven year threshold.

now, on the same date 4/10, TU FICO reports at 687, only a 5 point increase from the previous score with the collection still on. although discover doesn't release your entire credit report, i can see from the key factors advice that it is no longer there for this model either (which is correct since they are both TU). although i expected a bigger jump in my FICO score, this tells us something about how these models grade different accounts. the increase in only five points is barely noticeable, that tells me that the FICO model was practically ignoring the collection to begin with. where as the vantage model was giving much more weight to it, given the larger increase.

it also tells me FICO is a bit more conservative when grading things like this. i don't know all the ins and outs, as their grading is secret and proprietary, but i can only assume that the age of this account has led FICO to basically not even count it against me any more.

hopefully this info might help someone and what they might expect to see in scores after a collection account is removed. Or perhaps help someone to decide on whether to pay an old account off or not, given FICO's disregard for older collections.

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227 Contributions
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also, just for giggles i compared credit scores from CK to capital one credit tracker. cap one also uses vantage 3.0 and TU as well, so i was curious if the scores matched up. guess what? they are identical. 

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