Can Anyone Tell Me What a "Vantage Score" Is All About?
I pulled my credit this week to see where I stand because I'm applying for an LOC with a lender to purchase, rehab and resell or lease/rent distressed properties that cash flow and noticed that things have changed a little with the big three credit reporting agencies and their rating protocol.
Equafax continues to maintain the traditional 280 to 850 range. But both Experian & Transunion are now using what they call the "Vantage Score" which ranges from 501 to 990
Fortunately all my scores were excellant but can anyone enlighten me as to what this new scoring system is all about? Obviously you can tell that I have not been monitoring my cretdit for sometime so if I appear a little ignorant I am.
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