FICO score or Vantage Score (loans, 2013, credit report, loan) - Mortgages -Lenders, loans, financing, rates, foreclosures, short-sales, brokers, credit score, deed, lien, refinancing, borrowers - City-Data Forum

deb1chloe · 02-05-2008, 07:24 AM

I went to check my credit score and found that they have a new credit scoring system called vantage score. My score was 780....when I apply for a mortgage with this score, will they be looking at this score or the FICO score (which i don't know). Does anyone know what 780 is with FICO scoreing?

renriq02 · 02-05-2008, 08:37 AM

most lenders use FICO...you will need to apply with a lender that uses FICO.

there's no way of knowing how one compares to the other.
They have different models in how they weigh your credit.

jeffselan · 02-05-2008, 08:52 AM

Most large lenders use your mid FICO score. In other words, they take all 3 scores and use your mid score.

rrufast · 02-05-2008, 10:57 PM

Either way.. a 780 is EXCELLENT.

renriq02 · 02-06-2008, 07:13 AM

she has a 780 on a vantage score.

900-990 A
801-900 B
701-800 C
601-700 D
501-600 F

900+ is excellent

Quote:

Originally Posted by rrufast

Either way.. a 780 is EXCELLENT.

deb1chloe · 02-06-2008, 07:54 PM

So is that only average then?

cynthia zoren · 05-04-2013, 01:48 AM

I was checking my credit reports and scores last evening. Apparently there is some new scoring system called VantageScore. The scale is different from the old FICO system. Well, I have heard that the most recent version of the VantageScore credit rating design, [url=http://personalmoneynetwork.com/moneyblog/2013/03/13/vantagescore-3-0-could-help-millions-get-credit/]VantageScore 3.0[/url], created by the three major credit bureaus Experian, Equifax and TransUnion will raise the credit ratings of many Americans. It will also allow thousands with restricted credit histories access to loans they would formerly not have qualified for.

davebarnes · 05-04-2013, 07:53 AM

and Fair Issac dominated (i.e., had a monopoly) the credit scoring process and make huge profits.
So, the 3 big credit scoring firms decided they wanted in the action and get their share of the profits.
So, each created their own system.
While they took some money away from Fair Issac, it was not enough.
Now, they have created Vantage in another attempt.

By the way, this site http://personalmoneynetwork.com is merely a way for the owner to sell ads and should not be considerable a reliable source of information.

The only score that you care about is the one the lender is using for that loan.