RSSComparing Fico scores and Vantage Scores
September 8th, 2006 by Adam | Filed under Credit Score, FICO Score, Vantage Score.|
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What’s the score? - DetNews.com
You may or may not have heard that there’s a new credit score coming out to compete with the FICO score. In a few months or years, when you’re asked what your credit score is you’ll have to tell them both your FICO and your Vantage Score.
Vantage Scores seem easier to understand as they take us back to our school days where A’s are good and F’s are bad.Â
Here’s a graphic comparing the two scoring systems:
“By comparison, the new VantageScores system uses the same formula at each bureau. The bureaus say this will result in more-predictive results, though it won’t eliminate variations caused by differences in the data reported to each bureau.”
“Fico scores range from 300 to 850.
VantageScores range from 501 to 990 with letter grades. A score of 900
and up equals an A while 600 and lower is an F.”
So just be on the lookout for more news about the Vantage Scores.
-Adam
| What’s the score? DetNews.com,?MI?- Experian recently became the first of the three credit bureaus to sell their jointly developed credit score, called VantageScores, to consumers. … Under new system, is your credit score safe? Finding what is on your credit report Applying for loan should not be negative factor on credit score |
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