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What is Vantage Score

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Robin
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Subject: What is Vantage Score
 
 Posted on Fri Jun 13, 2008 11:06 am  
I have recently come across Vantage Score. Can anybody give me details about Vantage Score and how it works.
 
CMBV22

CMBV22

Joined: 08 May 2008
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Posts: 378



4034 Magic Points
 
 Posted on Fri Jun 13, 2008 9:36 pm  
You will notice that we already have a post on this subject. I went to the vantage website to get tyou the answer to your question straight from the horses mouth.
sc
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scott

scott

Joined: 28 Jun 2006
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4917 Magic Points
 
 Posted on Sat Jun 14, 2008 10:34 am  
Vantage score is actually a new model which has been developed by the three major credit reporting agencies ti develop a new scoring method which would reliably and predictively, score more people. This model simplifies the credit process for both consumers and creditors
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SCOTT

Social security, bank account, and credit card numbers aren't just data. In the wrong hands they can wipe out someone's life savings, wreck their credit and cause financial ruin.
 
Morningstar

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Joined: 17 Apr 2007
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40 Magic Points
 
 Posted on Sun Jun 15, 2008 1:52 am  
It may a cheaper (less expensive to view than a FICO) manner for a consumer to help guesstimate their creditworthiness, but IMO it will only have a real value once lenders begin using VS in conjunction with internal credit assessment protocols instead of FICOs.
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