Vantage Score

[witchypoo]

Does anyone know exactly what this is?  And with my ScoreWatch, do I have access to my vantage score?  And most importantly, do I need to know what it is and monitor it as well as my FICO scores?

Thanks in advance.

[2wheel]

I would monitor my Fico Scores But vantage score really isnt a score anyone uses I would think It would be a waste of time

[Lel]

The Vantage Score is an alternative credit scoring system that was developed by the three major credit bureaus and rolled out a few years ago.  Compared to the FICO score, It uses a different scale and a different weighting of the various elements that constitute their credit score.

For practical purposes, the Vantage Score is not used by very many companies that offer consumer credit.  In fact, the only company that I have heard uses the Vantage Score is Kohl's.  For better or for worse, the FICO score is still the standard used by the vast majority of credit issuers.

There isn't always a good correlation between the Vantage Score and FICO score.  That is, you can't take your Vantage Score and extrapolate to come up with a corresponding FICO score.

Your Equifax FICO score is monitored by Score Watch.  You can't monitor you Vantage Score through Score Watch.

[marty56]

You can go to the EX site and pay $5.95 for your Vantage score.  A cheap way to see if there might be any changes to your EX report.