VantageScore conversion to FICO is a bad joke
Q: I have VantageScore of 749 and want to convert it to FICO, in order to get a better idea of my real credit score. I found two formulas on the web,
1. Multiply VantageScore by 0.86 to get a rough approximation of FICO score
2. (Vantage Score – 501) x 1.125 + 300 is the other VantageScore conversion
What are your thoughts about it?
A: I have only one thought - don't bother. The very notion of converting any FAKO score into FICO is a waste of time. Such a conversion is simply absurd, because while the algorithms and variables factored in are similar, the scores can not be compared. You can't just play with credit score range numbers, and this is what both formulas are doing, to get anything close to real FICO score. I happened to try those and other conversion methods with my own scores and with scores of a few others. Total differences between FICO and converted FAKO were between 90 to 160 points.
Thu Mar 24, 2011 09:03PM | Copyright: www.bad-credit-advisor.com | More in Credit Score Help | Comments (0)
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