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Vantage Score Gaining Momentum With Lenders

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Anonymous
Not applicable

Re: Vantage Score Gaining Momentum With Lenders

Ah Ha, Eureka, I got it! Ok guys please refrain yourselves from mass pandemonium and inflicting fatal heart attacks.
THis is awesome news...I am going to make a rule one. Rule one, now that we are here we have to play the game!!!!!!!!!!!!!!!!!!!!!!!!!! You got it, we got to know how to play the game. Now if we learn to play we will win and take advantage of these dirty rats. Ok ready!???
Ok I think some of us know how to play, some may of forgot cause they are panicking which you guys had me doing for like 2 mins before I woke up from that bs and realized that. Look, now that we have all our ficos and fakos we can find out which lenders use this or that and we take advantage of this. Lets just say that This new vantage score helps us out, then we find out which lenders use it and go to those lenders for credit. It's ez...stop panicking.
Lets say your Ex is better then then your Eq then if you want a credit card go to AmEx. Lets say your Vantage helps you more then your fico well then just find out who uses it and obtain credit with them...

So relax and give those dirty rats a one finger solute. Muhahaha ha. Ah yeah, who'z da daddy, who's the daddy now, huh. Yeah! that's right we know the game!In ya face!

I think we need to have a sticky here on Fico like they do on edited where you find out which lenders pull what and perhaps a permanent link up on the top part of the discussion so people can update where they got there credit from. That will be our best weapons. I think if we keep up with that we will all be winners. Those poor suckers, we are going to screw them royally...I want blood!

--

Hi diggumsmacks ,

Our Credit Repair Discussion Guidelines frown on posting links to sites that promote and\or offer credit repair services.

Thanks for your participation!

- Tusc



Message Edited by Tuscani on 07-07-2007 11:07 AM
Message 51 of 60
fused
Moderator Emeritus

Re: Vantage Score Gaining Momentum With Lenders



@MidnightVoice wrote:


@Tuscani wrote:
  • Is based on a 24-month performance period
  •  




      That is the weird one to me. Seems VERY short to predict future behavior for someone with no baddies in that period, unless they hammer all new credit and all inqs in that time period

      I absolutely agree Midnight! Is Vantage thinking most who deafult will do so within the first 24 months after an account is opened?
      Message 52 of 60
      MidnightVoice
      Super Contributor

      Re: Vantage Score Gaining Momentum With Lenders

      I think that mortgage lenders have to look very long term, auto lenders medium term and CCCs short term.
       
      So for CCs it may make more sense that for anyone else.  They can just close the card and try and get back debt.  Having to evict someone from a house and sell it is a whole other kettle of fish
      The slide from grace is really more like gliding
      And I've found the trick is not to stop the sliding
      But to find a graceful way of staying slid
      Message 53 of 60
      fused
      Moderator Emeritus

      Re: Vantage Score Gaining Momentum With Lenders



      MidnightVoice wrote:
      I think that mortgage lenders have to look very long term, auto lenders medium term and CCCs short term.
       
      So for CCs it may make more sense that for anyone else.  They can just close the card and try and get back debt.  Having to evict someone from a house and sell it is a whole other kettle of fish


      Not sure what your saying?
      Message 54 of 60
      Anonymous
      Not applicable

      Re: Vantage Score Gaining Momentum With Lenders



      @Anonymous wrote:
      Again I rant....
      Gosh, do you think that the person's average "score" or "ability to get a loan" will go or up or down with the Vantage Scoring. Hmmmmmm.
      Well, if Vantage Scoring lowers more people's score than it raises, then that nice old bank is going to be forced, forced I tell you!, to charge higher interest rates on loans. Gosh, that old bank sure hates to do that......





      In the short run, that may be true, but in the long run, changing the scoring system will have little effect on interest rates. Supply and demand will kick in. Interest is nothing more than the cost of money, specifically, "renting" someone else's money for a time. As with any other price, interest is set by the supply of the commodity versus the demand.

      If I were in an occupation sensitive to interest rates, I would be far more concerned with what's going to happen to interest rates when the Fed is forced to start hiking the discount rate to defend the dollar in the next couple years.
      Message 55 of 60
      MidnightVoice
      Super Contributor

      Re: Vantage Score Gaining Momentum With Lenders

      The risks for the different lenders are different, and some might be more interested in a long and perfect payment history than others.  Mortages are usually 10-30 years - they are really gonna want to know about past history!  And they lend you a very large amount of money.
       
      CCCs will be lending you less, have an option of just stopping immediately before the debt gets worse if you get in trouble.  They have less invested in you and loan you less, they might be more interested in your short term history
      The slide from grace is really more like gliding
      And I've found the trick is not to stop the sliding
      But to find a graceful way of staying slid
      Message 56 of 60
      Anonymous
      Not applicable

      Re: Vantage Score Gaining Momentum With Lenders

      Tusc, Sorry about the website I wasn't promoting it, I used to go there before Ficos forums became pretty decent. I just wanted to help people with their Fico scores and think perhaps you could do what they do at CBs, they have pretty good info and have been there for a long time unlike here. I do think that you are doing a great job at monitoring this site. What I don't get is are we not suppose to mention any other credit repair for like Fico's but can mention lets say whogavemecredit.com cause I see that here a lot. Just a little confused that's all. I still think that you guys should have permanent post so people here can contribute to who gave them credit but on our board that way we can shop our credit around to where it will have the most sucess. I was only trying to help out buddy!
      Message 57 of 60
      Anonymous
      Not applicable

      Re: Vantage Score Gaining Momentum With Lenders

      Hi diggumsmacks , Our Credit Repair Discussion Guidelines frown on posting links to sites that promote and\or offer credit repair services. Thanks for your participation! - Tusc Isn't this a credit repair board as well? Since when have they provided a service? Cbs is just forum like fico's new forums. Just didn't see what the difference is.
      Message 58 of 60
      Tuscani
      Moderator Emeritus

      Re: Vantage Score Gaining Momentum With Lenders



      diggumsmacks wrote:
      Hi diggumsmacks , Our Credit Repair Discussion Guidelines frown on posting links to sites that promote and\or offer credit repair services. Thanks for your participation! - Tusc Isn't this a credit repair board as well? Since when have they provided a service? Cbs is just forum like fico's new forums. Just didn't see what the difference is.

      There are differences. Remember:
       
      -MyFICO Forums does not offer credit repair services
      -MyFICO Forums does not link to other credit repair or organization sites
      -MyFICO Forums only promotes legal and honest approaches to repairing your credit

       
      Message 59 of 60
      Anonymous
      Not applicable

      Re: Vantage Score Gaining Momentum With Lenders



      Tuscani wrote:
       
      There are differences. Remember:
       
      -MyFICO Forums does not offer credit repair services
      -MyFICO Forums does not link to other credit repair or organization sites
      -MyFICO Forums only promotes legal and honest approaches to repairing your credit


      I know you're just the messenger, but these always make me chuckle.
       
      Message 60 of 60
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