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 Posted: Sun Jul 16, 2006 10:12 pm Subject: What is vantage score all about it? |
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Is it going to be the next standard? What is the problem with current Fico scores?
This community is great, nice to be here.
Ron
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ron
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| Posted: Sun Jul 16, 2006 10:20 pm Subject: Vantage score is coming up |
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I also heard that Vantage score is coming up but have no idea when. This is basically an idea of the major three agencies.
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john12
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| Posted: Sun Jul 16, 2006 10:25 pm Subject: |
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Here is a website about it:
vantagescore.com/
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polly
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| Posted: Sun Jul 16, 2006 10:27 pm Subject: |
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Q. Why have the three companies collaborated to develop a score?
A. The three companies have heard client demand for the development of a single model that leverages the expertise of all three companies, and delivers the same, consistent and predictive power regardless of the data provider. The only way to address this market demand was to cooperate in the development of a revolutionary new score.
Q. What are the advantages of this score over the many others currently on the market?
A. Developed simultaneously from consumer data across all three credit reporting companies, this score promises greater consistency and predictability. Leveraging the deep data understanding of all three companies, and the latest analytic techniques, make this score not only consistent, but more predictive than older models.
Q. Who will be the main market for this new score- consumers or business clients?
A. VantageScore was created to address a strong need in the business marketplace. However, each company will distribute the VantageScore in a way that is consistent with its own business strategy that may include both consumers and business clients.
Q. What does this mean for the continued existence of the credit scores the three companies have developed and marketed individually for the past few years? Will these scores continue to be sold?
A. This score provides a new and unique option to the marketplace. There will continue to be multiple scoring solutions in the market that meet business needs. VantageScore will compete on the merits of its consistent, predictive power.
Q. Will each of you sell the same score? Will there be any variations from company to company?
A. The same model is used across all three companies. Differences in scores will occur when the underlying data content is different. Each company will sell VantageScore according to its unique marketing strategy and positioning in the marketplace.
Q. How will this new score be priced?
A. As independent distributors of VantageScore, each company will set its own prices.
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vantagescore.com/faq.html
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polly
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stella
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| Posted: Mon Jul 17, 2006 5:24 am Subject: |
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Is Vantagescore the new way of credit scoring module? What will be its effect on the current FICO scoring system? Does anyone have any idea about it?
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Justme
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| Posted: Mon Jul 17, 2006 12:10 pm Subject: |
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I dont thing its going to have a huge impact on the current FICO scoring module. FICO is a trusted name in the society for quite a while now and launching a new scoring system wont be good enough to pose a threat to its brandname. But yep we need to wait and watch how far these CRAs are going to challenge FICO by launching VANTAGEscore.
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Rick
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