New credit score online today

[anonymuse]

From Bankrate.com:

New credit score online today
By Joanna Glasner

A new credit scoring system is available to consumers online starting today.

For $5.95, Internet users will be able to check their VantageScores online through Experian, one of three U.S. credit reporting bureaus that jointly developed the system. The site also includes a simulation showing how potential actions, such as closing a credit card account or making a late payment, could impact a person's score.

This is the first time the VantageScores have been made available to the public.

For the rest of the article, visit:

http://www.bankrate.com/nltrack/news/debt/20060620a1.asp

Includes graphs comparing Vantage Scores to FICO scores

[krobin02]

I just got my Vantage score and was a "D" at a score of 632. I really need to get a credit card!

[SinkingFast]

This explains what our paralegal was talking about the other day on the phone.

We called to find out the implications of selling our house vs Foreclosure and BK. During the conversation, the paralegal discussed Credit in terms of letter grades. How we probably have an F now. Immediately after we file, we'd probably jump up to a D just due to the weight of all the debt dropping off.

So I guess this is what she was talking about. Another thing that Creditors and BK Attnys have known about for a while, but regular folk are just learning about.