Credit scores have long been determined by a nearly universal formula known as the ® * model. This model, owned by Fair Isaac, is used by over 80% of the major banks in the US, and is the familiar 300-850 credit ranking that consumers are familiar with.
Entries Tagged 'VantageScore' ↓
What VantageScore Could Mean for Newer or Less-Experienced Borrowers
November 25th, 2008 — Credit Bureaus, Equifax, Experian, TransUnion, VantageScore
VantageScore Versus FICO® *: How the New Credit Rating System May Affect Consumers
October 6th, 2008 — Business Credit, Business Credit Builder, Business Financing, FICO®, VantageScore
The fate of consumers and small business owner’s finances is wrapped in their ability to access credit and capital. This is increasingly the case, but still few borrowers are aware of exactly how their credit scores are determined. To further complicate what may already be a confusing picture for many, there is a new competitor on the market that, if it is successful in the market, will give consumers a second credit score in addition to the one they already have.
