New credit score available

REWahoo · 06-20-2006, 05:23 PM

According to Bankrate.com a new credit scoring system is available to consumers online starting today.

For $5.95, Internet users will be able to check their VantageScores online through Experian, one of three U.S. credit reporting bureaus that jointly developed the system. The site also includes a simulation showing how potential actions, such as closing a credit card account or making a late payment, could impact a person's score.

This is the first time the VantageScores have been made available to the public...

...Unlike FICO, which is solely a numerical score, a VantageScore comprises both a number and the letter grade A, B, C, D or F. But while the two scoring systems may look different, the behaviors leading to high or low scores are highly similar...

...VantageScore was introduced in March by credit reporting agencies Experian, Equifax and TransUunion, which touted it as a simpler scoring method because it uses a single formula to evaluate consumers' debt risk profile. Under FICO, each credit bureau uses a different method for calculating credit risk.

cute fuzzy bunny · 06-20-2006, 07:27 PM

Translation: "we got tired of paying Fair Isaac's royalties"

d · 06-20-2006, 07:46 PM

i'll get my $5.95 right in!

justin · 06-20-2006, 07:47 PM

If only creditors weren't constantly beating down my door to give me free/cheap money as is, I'd be all over the opportunity to see how much I've trashed my credit rating.

maddythebeagle · 06-20-2006, 08:45 PM

Quote:

If only creditors weren't constantly beating down my door to give me free/cheap money as is, I'd be all over the opportunity to see how much I've trashed my credit rating

stretch it until it hurts.

or until you turn into JG (making your wife work because you are dipping into the kiddy to buy more boats). :P

thefed · 06-20-2006, 08:48 PM

im a sucker for a cheap credit score. mine is UNPROPORTIONATELY lower than my other scores from the major 3.

Non sequitur · 06-21-2006, 05:38 AM

The last week in May, a local credit union forced me into a situation that required me to get my score from Experian. It cost $5.95 and returned a "VantageScore" on a scale of 501 - 999, a "risk grade, and "credit catagory".

I guess Bankrate is a little late with their report.

justin · 06-21-2006, 07:20 AM

Quote:

Originally Posted by Maddy the Turbo Beagle

stretch it until it hurts.

or until you turn into JG (making your wife work because you are dipping into the kiddy to buy more boats). :P

My wife works. Does that make me JG?

REWahoo · 06-21-2006, 07:35 AM

Quote:

Originally Posted by justin

My wife works. Does that make me JG?

No. But retire now, rely entirely on brainpower and willpower, and we'll take a poll to see if you qualify.

justin · 06-21-2006, 07:50 AM

Quote:

Originally Posted by REWahoo!

No. But retire now, rely entirely on brainpower and willpower, and we'll take a poll to see if you qualify.

But I can't retire now. I'm still approximately $1,000,000 short of my goal. I guess that answers the question.

cute fuzzy bunny · 06-21-2006, 11:46 AM

Quote:

Originally Posted by REWahoo!

No. But retire now, rely entirely on brainpower and willpower, and we'll take a poll to see if you qualify.

Dont forget kicking the wife around and dumping her when she stops working...

MJ · 06-21-2006, 03:55 PM

Quote:

Originally Posted by REWahoo!

No. But retire now, rely entirely on brainpower and willpower, and we'll take a poll to see if you qualify.

don't forget dumpster shopping.

Nords · 06-21-2006, 06:07 PM

Haven't seen him on either board for more than a couple weeks now...

cute fuzzy bunny · 06-21-2006, 06:10 PM

A driveway in illinois is still littered with, among other things, small bits of computer parts...

Nords · 06-21-2006, 06:24 PM

Quote:

Originally Posted by Cute n Fuzzy Bun'ny

A driveway in illinois is still littered with, among other things, small bits of computer parts...

How frequently does Google Earth update?

cute fuzzy bunny · 06-22-2006, 07:51 AM

Not often enough. I'd throw my tv out if there was a nice 30 second update...

06-20-2006, 05:23 PM	#1
REWahoo Moderator Emeritus Join Date: Jun 2002 Location: Texas Hill Country Posts: 10,188	New credit score available According to Bankrate.com a new credit scoring system is available to consumers online starting today. For $5.95, Internet users will be able to check their VantageScores online through Experian, one of three U.S. credit reporting bureaus that jointly developed the system. The site also includes a simulation showing how potential actions, such as closing a credit card account or making a late payment, could impact a person's score. This is the first time the VantageScores have been made available to the public... ...Unlike FICO, which is solely a numerical score, a VantageScore comprises both a number and the letter grade A, B, C, D or F. But while the two scoring systems may look different, the behaviors leading to high or low scores are highly similar... ...VantageScore was introduced in March by credit reporting agencies Experian, Equifax and TransUunion, which touted it as a simpler scoring method because it uses a single formula to evaluate consumers' debt risk profile. Under FICO, each credit bureau uses a different method for calculating credit risk. __________________ Some claim to have a crystal ball when it comes to investing in stocks and real estate. Me, I've got a disco ball... Retired in 2005 at age 58 - better FIREd late than never.

06-20-2006, 07:27 PM	#2
cute fuzzy bunny Give me a museum and I'll fill it. (Picasso) Give me a forum ... Join Date: Dec 2003 Location: Hot cross bun Posts: 21,216	Re: New credit score available Translation: "we got tired of paying Fair Isaac's royalties" __________________ To be truly happy, one must live absolutely in the present, with no thought of what's gone before, and no thought of what lies ahead. But to live a life of meaning...one is condemned to wallow in the past and obsess about the future.

06-20-2006, 07:46 PM	#3
d Thinks s/he gets paid by the post Join Date: Apr 2006 Posts: 1,400	Re: New credit score available i'll get my $5.95 right in!

06-20-2006, 07:47 PM	#4
justin Thinks s/he gets paid by the post Join Date: Jun 2005 Posts: 4,010	Re: New credit score available If only creditors weren't constantly beating down my door to give me free/cheap money as is, I'd be all over the opportunity to see how much I've trashed my credit rating.

06-20-2006, 08:48 PM	#6
thefed Thinks s/he gets paid by the post Join Date: Oct 2005 Posts: 1,276	Re: New credit score available im a sucker for a cheap credit score. mine is UNPROPORTIONATELY lower than my other scores from the major 3.

06-21-2006, 05:38 AM	#7
Non sequitur Recycles dryer sheets Join Date: Feb 2006 Posts: 152	Re: New credit score available The last week in May, a local credit union forced me into a situation that required me to get my score from Experian. It cost $5.95 and returned a "VantageScore" on a scale of 501 - 999, a "risk grade, and "credit catagory". I guess Bankrate is a little late with their report.

06-21-2006, 06:07 PM	#13
Nords Moderator Emeritus Join Date: Feb 2004 Location: Oahu Posts: 15,041	Re: New credit score available Haven't seen him on either board for more than a couple weeks now... __________________ * * For more info see "About Me" in my profile.

06-21-2006, 06:10 PM	#14
cute fuzzy bunny Give me a museum and I'll fill it. (Picasso) Give me a forum ... Join Date: Dec 2003 Location: Hot cross bun Posts: 21,216	Re: New credit score available A driveway in illinois is still littered with, among other things, small bits of computer parts... __________________ To be truly happy, one must live absolutely in the present, with no thought of what's gone before, and no thought of what lies ahead. But to live a life of meaning...one is condemned to wallow in the past and obsess about the future.

06-22-2006, 07:51 AM	#16
cute fuzzy bunny Give me a museum and I'll fill it. (Picasso) Give me a forum ... Join Date: Dec 2003 Location: Hot cross bun Posts: 21,216	Re: New credit score available Not often enough. I'd throw my tv out if there was a nice 30 second update... __________________ To be truly happy, one must live absolutely in the present, with no thought of what's gone before, and no thought of what lies ahead. But to live a life of meaning...one is condemned to wallow in the past and obsess about the future.

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