By now everyone is aware of the Vantage credit scoring system developed by the three major credit bureaus: Equifax, Experian and TransUnion. The system grades consumers on a scale of A-F. I have done extensive research, but have yet to find out how lenders will use this score, or which lenders will choose to use the Vantage score as opposed to the FICO score.
Will they be flexible in their analysis and look at the actual score or just look at the grade of A-F.? Unfortunately, no one knows for sure. For now, when applying for a loan, ask the lender which credit score they are using.
I recently refinanced my home and the lender used the FICO score. Well, I recently obtained a copy of my credit report and credit scores from the three major credit bureaus. I have not made any late payments in the past 10 years; therefore, I expected to get the highest credit score possible or at least very close to it. My scores were 760 and above.
When I ordered my Experian report I wanted to order a FICO score, yet I only had the option of getting a Vantage score. My Experian Vantage score was 819. To my surprise, all of these ridiculous reasons were given to explain why my...
To view and download this full PLR article, you must be logged in. Registration is completely free. Once you create your account, you will be able to browse, search & downlod from our PLR articles database of over "1,57,897+" on 1,000's of niches and 200+ categories without paying a penny. Click here to signup...
