Yesterday I took the plunge and checked my credit score. I was curious and could not wait. Much to my surprise, the 3 major credit reporting agencies, Equifax, TransUnion, and Experian have changed their credit score model to use the "Vantage Score". This change will make all three credit reporting agencies more consistent. The scores can range from 501 to 990. Basically you will also have a letter grade associated with your score as follows:
A - 901-990
B- 801-900
C- 701-800
D - 601-700
F - 501-600
My score was an 895 so now my goal is to increase it to over 901 so that I will be an "A" credit risk. The factors that go into computing the credt score have not changed...only the scale has changed.
Thursday, October 18, 2007
Improving my credit score Part 2
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