Sp Credit Rating Section
Sp Credit Rating Article
Is the New Vantage Score Really Something we Need
The Big three Credit Bureaus have recently announced their new partnership to form the Vantage Score. This will take on the highly excepted FICO credit scoring system that most lenders use today when considering consumers for loans and different financial applications. The three credit bureaus claim that they formed this new scoring system in a response from society’s demands for it but do we really need another credit score to monitor and try to ensure they contain no errors?
Not until recent years has there finally been a push to make consumers more aware of their credit reports and the information contained on their credit history. This was a result of lawsuits and the publics demand to know how exactly FICO and the three Credit Bureaus were coming up with our credit scores. Now with identity theft affecting a large portion of our society, we have been forced to monitor our credit reports to not only get the best loan rates, but to protect ourselves from becoming a victim of identity theft.
The new Vantage Score will not follow the same scoring system that we have become accustomed to. FICO scores range from 500-850, the new Vantage Score will range from 501-990 and have a letter grade ranging from “A” to “F” attached to them. Depending on how they decided to release our scores, numerically our alphabetically, this could be a bit deceiving to lenders. If we are now going to have to be judge on an all encompassing letter score that ranges 100 points per letter grade, we could be missing threshold loan rates without the lender knowing the whole truth about our credit history. For example, if we apply for loan and the lender says we will get a certain rate because we have a “C” rating in our Vantage Score, which is the range of 701-800, but we would have received a better rate in a “B” rating, and our credit score was a 798, is this new letter rating really helping consumers or hurting them?
We have not yet been told when exact release date of our new Vantage credit scores will be, Experian is the only one that has said they will begin changing over their credit scoring system this summer. Until we know all the details we must wait to see how it all plays out. We need to have a credit rating system that will allow the consumers to be judged more fairly when being considered for loans, and I fear that this new Vantage Score will only hinder our ability to get the best loan rates possible for our financial situation.
http://www.creditrepairplan.com Do It Yourself Credit Repair Made Simple, Effective and Legal.
Sp Credit Rating News
Muni Sales Dry Up as States Face $42 Billion Deficit (Update1) (Bloomberg)
Dec. 31 (Bloomberg) -- The worst year for municipal bond investors since 1999 may further reduce demand for tax-exempt debt just as state governments face the biggest budget deficits in at least a quarter-century.
Read more...Broncos Cutler, Chargers Rivers don't see eye-to-eye (Rocky Mountain News)
It was all over except for the shouting - not in celebration, but at one another. Broncos quarterback Jay Cutler got lippy at the constant trash-talking by San Diego players and allegedly made an obscene gesture in their direction last December.
Read more...Moorlach Sees Up to 10 Municipal Bankruptcies in Coming Year (Bloomberg)
Dec. 23 (Bloomberg) -- The accountant who predicted the nation’s largest municipal bankruptcy says as many as 10 insolvencies will roil the $2.7 trillion U.S. market for state, county and city debt next year as public finances worsen amid calls for federal aid to state and local governments.
Read more...S & P slightly lowers California's credit rating (Los Angeles Times)
Short-term notes that the state sold in October fall one notch to SP-2. S & P also warns that its A-plus rating on $46.6 billion of general obligation bonds, which are long-term debt, might be lowered California's credit rating was dinged Thursday by Standard & Poor's, which cited the state's worsening budget crisis.
Read more...Fitch Affirms Eastman's IDR at 'BBB'; Outlook Remains Stable (Business Wire via Yahoo! Finance)
CHICAGO----Fitch Ratings has affirmed the following ratings of Eastman Chemical Company :
Read more...