The Big 3 Credit Bureaus have recently announced they will be releasing their newly formed Vantage Score this year to take on the current FICO credit rating system. Many are concerned about how effective this new rating system will be. Will consumers benefit from this new source of credit score or will they be left with more information to monitor and more credit reporting information to keep track of?

Traditionally, FICO credit scoring system has been the most highly except credit report and credit score by lenders. This score ranges from 500-850 and will give lenders a overall analysis of what your credit handling is. The new Vantage Score, and what we know about it so far, will be a range from 501- 990 and will attach a letter grade to it ranging from an