Term: VantageScore
8 found

Want to See the FICO Scores Lenders See? Now You Can

By Steven Shaw on 2/4/2015

FICO scores

Consumers who want to know everything they can about their credit scores seem to be getting more options by the day.

Last month, the White House announced that more than half of American adults would soon have access to free credit scores through their credit card issuers. Soon after, Citi began sharing scores with its cardholders. Last week, upstart VantageScore announced it was making in-roads with lenders and is about to serve its 1 billionth score. This week comes word from FICO, the folks who supply the most commonly-used credit score, that it will for the first time make 18 different versions of its FICO score available to consumers — for a fee.

credit score
FICO Score
VantageScore

Help! My Credit Score Disappeared

By Steven Shaw on 11/5/2014

Help! My Credit Score Disappeared

 Have you lived overseas for a few years? Gotten married and gotten by on your spouse’s credit accounts? Have you cut up your credit cards and just paid with cash or your debit card for a good number of years?

If this is you, your credit record may have gone “poof!” and your credit score may have disappeared. Here’s how.

credit score
FICO
FICO credit score
FICO Score
VantageScore
VantageScore 3.0
VantageScore credit score

13 Reasons to Get Your Credit Scores

By Steven Shaw on 5/28/2014

credit scores 

Have you put off checking your credit score and credit reports? Maybe you figure that no news is good news. Or perhaps you think that you might as well not worry about credit until you actually need it.

credit score
credit scores
FICO credit score
VantageScore
VantageScore 3.0

How Much Does a $20K Car Loan Really Cost You?

By Steven Shaw on 5/14/2014

car loan cost 

Quick question: On a $20,000, 60-month auto loan, about how much more would a borrower with a low credit score pay than a borrower with a high score? Would you say…

Under $1,000

  • $1,000-$3,000
  • $3,000-$5,000, or
  • More than $5,000
  • auto loan
    millennials
    VantageScore

    Beyond FICO: 6 Credit Scores You Should Know About

    By Steven Shaw on 7/29/2013

    non-fico credit scores

    When you get your credit score, you may be surprised to learn that the score you receive is not a FICO score. That doesn’t mean that the score you received is “wrong,” or somehow inferior, though. There are a variety of credit scores that lenders can use to make credit decisions, and the ones they choose depend on which ones they believe are right for their business.

     

    Equifax Credit Score
    PLUS Score
    TransRisk Score
    VantageScore

    Is VantageScore’s New Score Range Good for Consumers?

    By Steven Shaw on 3/18/2013

    Is VantageScore's New Score Range Good for Consumers?

    Last week, VantageScore, the 7-year-old credit scoring company owned by the three major nationwide consumer credit reporting agencies (CRAs) — Equifax, Experian and TransUnion — took a big step in the direction of making credit scores easier for consumers to understand, as it abandoned the score range of 501-990 it has used since inception. With its new 3.0 model, VantageScore has adopted the range of 300-850, making it consistent with the score range long held by FICO scores.

    credit score
    credit scores
    FICO
    VantageScore
    VantageScore 3.0

    More proof that Alternative Credit data is helpful to consumers and to creditors

    By Steve Ely on 3/15/2013

    If you're reading this post, you already know that eCredable is in the business of helping consumers prove their creditworthiness, by verifying the routine bills they pay which are not reported to the national credit bureaus.  We have created a credit rating that you can share with a potential creditor, which allows them to quickly determine your level of creditworthiness - just like they do with a FICO score.

    Vantage has announced a new score which will help millions of consumers have better Vantage Scores - not better FICO scores.  But it's still progress, especially for the lenders who use the Vantage score when determining your credit risk, and what kind of terms you might be offered.  But don't get too excited.  It takes years for creditors to adopt new scores, so you'll need to be patient.

    credit score
    credit scores
    credit scoring
    FICO
    VantageScore

    FICO v. VantageScore: 5 Differences You Should Understand

    By Steven Shaw on 1/25/2013

    FICO v. VantageScore - 5 Differences You Should Know

    It’s been seven years since VantageScore (Vantage) appeared on the credit scoring scene to challenge Fair Isaac Corporation (FICO), following years of FICO’s dominance that lead to its credit bureau risk scores becoming the industry standard for lenders making prescreened credit offers, approving or denying applications for new credit, and managing their existing credit accounts. (Full disclosure: I worked for FICO for 16 years).

    While consumers are still more likely to see their credit applications evaluated by FICO than Vantage when applying for different types of credit, they are, at the same time, most likely to receive Vantage scores when ordering their credit reports from the major consumer reporting agencies (CRAs): Equifax, Experian and TransUnion.

    Equifax
    Experian
    FICO
    TransUnion
    VantageScore