New Credit Scoring System to Benefit Consumers and Credit Grantors
Atlanta, Chicago and Costa Mesa, CA March 14, 2006 â€” The nation’s three consumer
credit reporting companies â€” Equifax, Experian and TransUnion â€” today jointly
announced the introduction of a new credit score designed to simplify and enhance the
credit process for both consumers and credit grantors.
VantageScore is a direct result of market demand for a more consistent and objective
approach to credit scoring methodology across all three national credit reporting
companies. This approach is unprecedented in the marketplace.
The new VantageScore leverages the collective experience of the industry’s leading
experts on credit data, scoring and analytics. Under the new scoring system, credit score
variance between credit reporting companies will be attributed to data differences within
each of the three consumer credit files and not to the structure of the scoring model or
By combining cutting-edge, patent-pending analytic techniques with a highly intuitive
scale for scoring, VantageScore will provide consumers and businesses with a highly
predictive, consistent score that is easy to understand and apply. VantageScore uses score
ranges from 501 to 990.
VantageScore is being independently marketed and sold separately through each of the
three national credit reporting companies via licensing agreements with VantageScore
Solutions, LLC. VantageScore is commercially available beginning today.