Does This Tick You Off Too? Another New Credit Score Model? Vantage Score 2009

Hurry…..there is no time to wait! Now, more than ever is the time to

Increase Our Credit Scores.

Read below and see why.

Vantage Score is a scoring methodology that includes all three credit reporting companies and is supposed to deliver a predictive and easy way to understand our credit risk to those making decisions based on our credit scores. This can be used by: lenders, Insurance Companies, Employers, Wedding Planners, Mortgage Companies etc. It is a credit scoring model developed jointly by the national credit reporting companies

What does that mean to us? More work, More Effort and More Time! Yuck!

We have to consistently ensure all these various pieces are correct or else…….we will be rejected from whatever it is we are trying to achieve!

Below are the New Credit Score Card Ratings

901 – 990 = A
801 – 900 = B
701 – 800 = C
601 – 700 = D
501 – 600 = F

Vantage takes into account information in the last 24 months. So if we had 1-30 day late during that period our score can potentially decrease by 35%.

F.Y.I……  As of June 2009, the new Average Credit Score is 625.

Hmmmm….anything to do with the New Vantage Score? Well, only time will tell.

*Advanced techniques were used in the New Model and Vantage Score is very, very vague about what these are. This results in a stronger separation of good and bad accounts and the ability to classify more bad accounts into the worst-scoring ranges.

Wow, not to good for us consumers.

Features Across all Three Bureaus

• Implementing the same score at all three national credit reporting companies
• A common score range of 501-990 (high scores equal low risk)
• Multiple scorecard technology
• Score differences across the three companies are attributed to content differences, as opposed to the scoring algorithm itself (Here is where the problem lies)

Following are some ways businesses will use the new score:

Warning

Increase Your Credit Score Fast or Hire My Company

www.federalcreditrepair.org

To Do it For You !

Scores will be used for tiered offers with multiple strategies.

For example, extend the most favorable offer to your most creditworthy clients, a moderate offer for those consumers that are in the middle segment of credit risk, and the lowest offer for consumers that are more risky.

That means…Our Scores = Our Rates.

Consumers that would fall into a risk category that is unfavorable for businesses will Not Pass Go!

That means…Our Scores = Our Ability To Be Hired

That means…Our Scores = Our Ability To Get That Mortgage Rate We See Advertised

That means…Our Scores = Our Ability To Get Married

That means…Our Scores = Our Ability To Live the Life Of Our Dreams

Below are charts showing the scoring systems categories.

Utilization and balance owed on Vantage are defined as the same thing.

Depth of credit is the length of credit history.

Will this add more confusion to an already misunderstood system?  YUP!

Is this product created to compete with Fico and cash in on those enormous profits? YUP!

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Not sure what to do?

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