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What is Vantage Score

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Robin
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Subject: What is Vantage Score

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.

scott

scott

Joined: 28 Jun 2006
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Posts: 462

10934 Magic Points

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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Morningstar

Morningstar

Joined: 17 Apr 2007
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Posts: 601

11 Magic Points

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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