Very shortly there may be a new credit reporting system that will change the way that the our credit scores are determined. We currently use the FICO scoring method to determine our credit worthiness. Using this current method the highest FICO score that you can currently accumulate is 850. Under the new VantageScore method the highest score you can accumulate is 990. I for one am comfortable with using the Fair Isaac way of credit scoring, but maybe that is because I am opposed to major changes. Well obviously only time will tell how well this new method works out, if it truly comes to fruition. Below is the breakdown of the new scoring system. I am curious to hear opthers opinion on this topic as it has intriqued me since i first heard about this happening.
New Vantage Scoring Method
901-990 equals "A" credit
801-900 equals "B" credit
701-800 equals "C" credit
601-700 equals "D" credit
501-600 equals "F" credit
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