Credit Bureaus Roll Out VantageScore Credit Scoring System

re: Credit Bureaus Roll Out VantageScore Credit Scoring System

Hayden Gerson — Sun, 07 Dec 2008 19:42:41 GMT

Credit Bureaus tend to report inaccurate information, and have replaced most workers with OCR machines that don't help consumers to remove incorreect info. This is a messed up system.

RE:Credit Bureaus Roll Out VantageScore Credit Scoring System

Overpower Us — Tue, 15 Jan 2008 13:00:00 GMT

The new system is simply for the means of the Consumer getting this corrupt Country out of Debt (supposidly) If everyone is found to be a D with the new Sys. that was an Avg on the old Sys, then guess what? More Consumers poor credit. More Consumers higher cost for loans. Guess what once again, like Gas we will slow down on Borrowing eventually. at least the wise will. So much for the economic boost. If you are wise keep your change, don't spend your dollars, and borrow absolutely nothing.

RE:Credit Bureaus Roll Out VantageScore Credit Scoring System

Eric — Sat, 03 Mar 2007 13:00:00 GMT

All I have to say is that this new scoring system is a joke! I have paid off thousands of dollars in credit cards and have an auto loan out now, and that is all, but there is still about 60-70 point difference in my scores. This is not fair to anyone, and I think it is just another joke for the credit bureaus and banks to get over on everyone. The other thing is, when you pull your credit score, it will differ from what a bank or mortgage company will get when they pull your score. What a joke!

RE:Credit Bureaus Roll Out VantageScore Credit Scoring System

Jessica Donovan — Fri, 10 Nov 2006 13:00:00 GMT

I was wondering if anyone can tell me what my VantageScore means and how it compares to the average consumer. I have a score of 782 on the Vantage scale. Keep in mind that I am a college student with not a lot of credit history. Will I be able to take out a loan for a car?

RE:Credit Bureaus Roll Out VantageScore Credit Scoring System

David W Johnson — Thu, 18 May 2006 11:00:00 GMT

The old system ...." scores were based largely (a total of 65 percent) on payment history and total indebtedness with lesser weight given to length of credit history, amount of recent credit, and the types of debt" FICO was based on a SNAPSHOT of your credit history. It appears the new sytem, will give more of a MOVIE of your credit history. I'm in my fifties.....and appreciate the idea of looking at my entire credit history.

RE:Credit Bureaus Roll Out VantageScore Credit Scoring System

redbear — Wed, 29 Mar 2006 11:00:00 GMT

This new scoring system does not address or help those that have had a few problems...yet have kept major credit paid on time...20 years of "active" credit without a blemish is being over ridden by minor problems! Lenders are not looking at good active credit that has been well maintained....examples, has been closed.