so this guy on local board, helps people clean up their credit.....
so anyways he post this......
Quote:
Originally Posted by txferrari
As of now(well, they are in the process of changing it as we speak).
The credit score model is changing. I know TransUnion has already implemented the new scoring model.
It used to be on a score from 450-850.
It is now changing to 500-900.
Which means, that your 650-750 score is not as stong as it used to be.
This is bureau wide. But has not caught up in the mortgage or auto industry as far as scoring goes. Same with getting a credit card. But, over time, the scoring as a whole will change.
Plus, you are given a grade now. A-F.
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i assumed this
Quote:
Originally Posted by RACER X
if they increase the floor and roof by 50pts, then shouldn't points go up accordingly? i mean if you have a 450, and NOW the minimum is 500, wouldnt you have a 500 then?
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Quote:
Originally Posted by txferrari
Pretty much yes. Not that it matters I guess when you look at it that way, but for people like myself. I am still sitting at a 681. That 681 isn't as strong as it was. Cus it's based on a top level of 900. My 681 on TransUnion gives me a believe it or not.....a C grade.
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Quote:
Originally Posted by txferrari
Everyone is going to drop a grade pretty much. Which sux. I knew it was coming, just didn't know it was going to happen now. They were saying Feb of 2010.
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hmmmm