Do you need this new credit score?
Credit bureaus tout their new VantageScore
The three major credit bureaus -- Equifax, Experian, and TransUnion -- are introducing a new credit-risk scoring system they call VantageScore.
This new system is supposed to make your credit score more consistent and easier to interpret.
right now, Equifax, Experian, and TransUnion each use a different formula to come up with your credit score.
because of that your credit score may not be the same on all 3 credit bureaus and may vary by as much as 50 points
The 3 bureaus are coming up with this new vantage score and it will be like your grades in high school:
VantageScore will run from 990 to 501. If you rate a score in the 900s, your credit rating earns an "A"; a score in the 800s is a "B" and so on.
right now this system is being tested.
you can read more about it here:
http://www.consumerreports.org/cro/personal-f...
Posted by Consumer Reports 
on 5/19/06 4:59 AM
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