Go Back   Two Wheel Fix > General > News Desk

Reply
 
Thread Tools Display Modes
Old 12-28-2009, 06:07 PM   #1
RACER X
AMA Supersport
 
RACER X's Avatar
 
Join Date: Nov 2008
Location: Richmond, Tx
Moto: '10 Tuono Factory
Posts: 4,569
Default changes in credit ratings.....

so this guy on local board, helps people clean up their credit.....

so anyways he post this......

Quote:
Originally Posted by txferrari View Post

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.
i assumed this

Quote:
Originally Posted by RACER X View Post

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?
Quote:
Originally Posted by txferrari View Post
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.
Quote:
Originally Posted by txferrari View Post
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.

.
hmmmm
__________________
ΜΟΛΩΝ ΛΑΒΕ
2014 GROM! 181cc of FURY
2010 Aprilia Tuono Factory - SOLD
2009 SFV Gladius - SOLD
2008 Hayabusa - SOLD.
RACER X is offline   Reply With Quote
Old 12-28-2009, 06:12 PM   #2
Homeslice
Elitist
 
Homeslice's Avatar
 
Join Date: Nov 2008
Location: SF Bay Area
Moto: Gix 750
Posts: 11,351
Default

Is this another import ricer forum

I like how his SN says Ferrari, yet he only has a 681 score which is weaksauce IMO. Either he doesn't have a Ferrari, or he does and he just sucks at personal finance or paying bills on time.
Homeslice is offline   Reply With Quote
Old 12-28-2009, 06:13 PM   #3
RACER X
AMA Supersport
 
RACER X's Avatar
 
Join Date: Nov 2008
Location: Richmond, Tx
Moto: '10 Tuono Factory
Posts: 4,569
Default

naw he used to sell high end cars. bike forum
__________________
ΜΟΛΩΝ ΛΑΒΕ
2014 GROM! 181cc of FURY
2010 Aprilia Tuono Factory - SOLD
2009 SFV Gladius - SOLD
2008 Hayabusa - SOLD.
RACER X is offline   Reply With Quote
Old 12-28-2009, 06:23 PM   #4
RACER X
AMA Supersport
 
RACER X's Avatar
 
Join Date: Nov 2008
Location: Richmond, Tx
Moto: '10 Tuono Factory
Posts: 4,569
Default

"The old system was 450-850.

So now, it's 501-990."

if that is the case, we're getting hosed.
__________________
ΜΟΛΩΝ ΛΑΒΕ
2014 GROM! 181cc of FURY
2010 Aprilia Tuono Factory - SOLD
2009 SFV Gladius - SOLD
2008 Hayabusa - SOLD.
RACER X is offline   Reply With Quote
Old 12-28-2009, 06:25 PM   #5
Homeslice
Elitist
 
Homeslice's Avatar
 
Join Date: Nov 2008
Location: SF Bay Area
Moto: Gix 750
Posts: 11,351
Default

http://www.vantagescore.experian.com/
Homeslice is offline   Reply With Quote
Old 12-28-2009, 10:11 PM   #6
pauldun170
Serious Business
 
pauldun170's Avatar
 
Join Date: Nov 2008
Location: New York
Moto: 1993 ZX-11 2008 CBR1000rr
Posts: 9,723
Default

No worries here
__________________


Quote:
Originally Posted by Dave View Post
feed your dogs root beer it will make them grow large and then you can ride them and pet the motorcycle while drinking root beer
pauldun170 is offline   Reply With Quote
Old 12-28-2009, 10:20 PM   #7
fasternyou929
SFL Expatriate #2
 
fasternyou929's Avatar
 
Join Date: Nov 2008
Location: Raleigh, NC
Moto: CBR1000
Posts: 2,043
Default

Quote:
Originally Posted by pauldun170 View Post
No worries here
Same.

This has been in the works for at least a year now, not exactly new news.

ETA: I highly doubt everyone will be dropping a grade. Vantage score is a completely different system, so you wouldn't have the same scare as you do with FICO. It's not a lateral move.

Last edited by fasternyou929; 12-28-2009 at 10:22 PM..
fasternyou929 is offline   Reply With Quote
Old 12-28-2009, 10:39 PM   #8
shmike
Follower
 
shmike's Avatar
 
Join Date: Nov 2008
Posts: 5,549
Default

Quote:
Originally Posted by fasternyou929 View Post
Same.

This has been in the works for at least a year now, not exactly new news.

ETA: I highly doubt everyone will be dropping a grade. Vantage score is a completely different system, so you wouldn't have the same scare as you do with FICO. It's not a lateral move.
I'm glad you said that.

I haven't been paying attention and about shit a brick!

With a 701-800 = C, I'd be rethinking mortgage rates.
__________________
Racing For Smiles
shmike is offline   Reply With Quote
Old 12-30-2009, 05:44 PM   #9
Kaneman
AMA Supersport
 
Kaneman's Avatar
 
Join Date: Nov 2008
Location: Odessa, TX
Moto: 2000 Honda CBR1100XX Blackbird
Posts: 4,931
Default

Quote:
Originally Posted by Homeslice View Post
Is this another import ricer forum

I like how his SN says Ferrari, yet he only has a 681 score which is weaksauce IMO. Either he doesn't have a Ferrari, or he does and he just sucks at personal finance or paying bills on time.
When you're rich you don't need credit and that's the truth. As a fraud investigator for Mercedes Financial I saw numerous people financed on Ferraris, Lambos, and of course high-end Mercedes with scores under 700. I even oversaw the financing of people without SSN's. The dealer CAN get you approved...its all about who you know.

Also, what you really have to realize, is that the entire credit rating system in the U.S. is a scam. Period, you're getting screwed no matter what.
__________________
1982 Honda XR80 - blown motor, 1993 Kawasaki ZX6D - sold, 2001 Suzuki Bandit 1200S - sold, 1984 Honda Magna - sold, 2001 Kawasaki ZRX1200R - blown motor, 2007 Suzuki DL1000 V-Strom - totalled, 2003 Yamaha FZ1 - sold, 1994 Honda Magna - sold, 2001 Honda CBR600F4i - sold, 1998 Suzuki DR350 - stolen, 1989 Honda Super Magna - sold, 2007 Yamaha Stratoliner, 2000 Honda CBR 1100XX Blackbird
Kaneman is offline   Reply With Quote
Old 12-30-2009, 07:22 PM   #10
Sixxxxer
Like Gixxxxer But Not
 
Sixxxxer's Avatar
 
Join Date: Jul 2008
Location: Dirty Jersey
Moto: 2008 ZX6R
Posts: 4,891
Default

Quote:
Originally Posted by Kaneman View Post
When you're rich you don't need credit and that's the truth. As a fraud investigator for Mercedes Financial I saw numerous people financed on Ferraris, Lambos, and of course high-end Mercedes with scores under 700. I even oversaw the financing of people without SSN's. The dealer CAN get you approved...its all about who you know.

Also, what you really have to realize, is that the entire credit rating system in the U.S. is a scam. Period, you're getting screwed no matter what.
Amen to that.
__________________
[FRSH]
Candy Plasma Blue
Sixxxxer is offline   Reply With Quote
Reply

Bookmarks

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT -4. The time now is 12:05 PM.

Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.