New VantageScore credit scoring system will assign letters, not numbers
New credit-scoring system will assign letters, not numbers (The Daily News Transcript)
Here’s a intro to Vantage Scores article and why it was introduced in the first place.
“Under the new system, called ’VantageScore,’ the three credit-reporting agencies will use the same procedure to calculate scores and then issue consumers a letter grade ranging from A to F. Previously, the agencies issued a 3-digit number between 300 and 850.”
“With the new system, the three agencies use the same formula to calculate a consumer’s credit score. The scale the score is based on now ranges from 501 to 990. As before, the higher the score the better, and to help drive this point home, the agencies now assign scores letter grades.”
-Adam
Q: I heard that the credit bureaus were going to introduce a new scoring system. Do you know what it is?
technorati tags:vantagescore, vantage, credit, score, credit-reporting, agencies
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