Vantage Score-New Credit Score by Experian,Transunion and Equifax

Real Estate Agent with Keller Williams Select Realtors-Buy a home in Washington DC. Sell a home in Washington DC SP98364271

Yesterday when I was watching Carmen Wong Ulrich aka the young Suze Orman(At least I think so)show on CNBC "On the Money,She said that the three credit bureaus-Experian,Transunion and Equifax have formed a new credit scoring system. It's called Vantage Score.

Your Vantage Score could look different from your FICO Score. It uses the same underlying data about your debts as the FICO score you already know. Experian,Equifax and Transunion are private companies that each track your accounts,balance and payment habits. A credit score simply assigns a weight to those factors to produce an indicator of how much risk you pose as a borrower. Fair Isaac Formula for scoring is the one lenders like best. The lender pays the credit bureau for the score,and the bureau pays FICO for using its formula.

Now it looks like the three credit bureaus want to cut Fair Isaac out of the picture to avoid paying them. The three bureaus actually tried this before but they didn't succeed. They are hoping for a different result this time around with the Vantage Score.

While the FICO scale runs from 300 to 850,the Vantage Score range is more "intuitive" because it breaks down like an school report card.

  • 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.

This could be what we need. I know a lot of people are not so crazy about the FICO Score. People think by the three bureaus forming Vantage Point,it will force Fair Isaac to be more more flexible with its prices. And by the way,you still have to pay for it. So make sure you only pay for just one of the scores and not both.

For more information on the New Credit Score by Experian,Transunion and Equifax,click on this link On The Money: The New Credit Score In Town - On the Money - Credit ...

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Wayne Frazier
Licensed Public Insurance Adjuster - Hunt Valley, MD


This was announced some time ago. If my memory serves me wel, it was last year.

To my knowledge it was not well received by the Lenders and never implemented by any of them. This doesn't mean it won't be, just hasn't yet. Not 1 lender I deal with has even mentioned it since its' initial stirring.

Good to let people know though.

Sep 24, 2008 12:39 AM #1
ama hender
Lone Tree, CO

Interesting, I'll ask my husband that pulls credit all day (managing a car dealer) what he thinks about this. He may have something interesting to add.

Sep 24, 2008 03:45 AM #2
Daniel J. Brudnok, REALTOR
Berkshire Hathaway Home Services Fox & Roach, REALTORS - Exton - PA License #RS-225179-L / Delaware License #RS-0025038 - Downingtown, PA


Long time no comment my friend....I hope all is well.

The entire system needs to be overhauled.....any change has to be good as far as I am concerned.

Sep 24, 2008 03:53 AM #4
Tatyana Sturm
Exit Realty DTC - Aurora, CO
Denver Realtor, GRI, Denver/ Aurora CO Relocation

Interesting this is something I have not heard of this before

Sep 25, 2008 12:42 PM #5
Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection

Lanre - Very interesting topic especially at this time. Did you hear that WAMU failed?


Sep 25, 2008 03:00 PM #6
Keller Williams Select Realtors-Buy a home in Washington DC. Sell a home in Washington DC - Bowie, MD
I don't make promises.I deliver results.SOLD HOMES

Jennifer- I was so shocked to hear that. WAMU is going to go down as the biggest bank failure in history. UPDATE: Rumor is Wachovia Bank is the next bank in line to go out of business and could become the biggest bank failure. All this in less than a week. Very scary. Have a great weekend.

Tatyana- I have never heard of it until I saw that show.

Dan- Great to hear from you too my friend. How is everything going? Something needs to be done to bring home buyers to the market. Thanks for your comments.

Amanda-I am sure your husband definitely knows about that. Im curious to find out what lenders think about Vantage Score. Have a great weekend.

Wayne- That's interesting. Thanks for your comments.

Sep 26, 2008 05:19 PM #7
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