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Poor credit is such a standard point among Americans that the three major credit bureaus have presented a way for helping customers to get out of debt. The VantageScore program was introduced in March of 2006 and distributed around all merchants who are accountable to the three major credit agencies. Essentially, the purpose of the new system is always to give a consistent and more precise credit rating system for customers. Previously, the sole credit rating system was the FICO system, that is determined on software produced by Fair Isaacs Corporation. The problem with the FICO rating system was while they each use their particular method of measurements that you may possess a different score from all three bureaus. The brand new VantageScore process is supposed to create a more consistent method of determining credit risk. It includes new technology and the expertise of industry leaders on credit information to obtain a simpler to understand and more consistent score for use by consumers and merchants alike. The report may well be more like academic grading and vary from 901-990 for the very best credit and 501-600 for the worst. A very important thing about the new results is that when you have little or no credit history, you can still obtain a good report. To improve you VantageScore, usually pay your bills punctually. The payment history area of your credit history is definitely an important factor in your VantageScore. Therefore make sure that you do not take on more debt than you are designed for Also try to pay more than the minimum balance on credit cards and loan bills. Doing so could keep the rule down and prevent you from maxing out a or defaulting on financing. We found out about  [http://www.rdatoolkit.org/event/7593 credit reporting bureau]  by searching Google. Even five or ten dollars additional per month could make a big difference later on. And check your credit file at least once per year for problems. You are eligible for a free of charge report from all three companies once per every twelve months. You would be surprised at how many errors there might be on your own statement. Learn more on the affiliated encyclopedia - Browse this URL:  [http://9ye7.com/whats-in-your-fico-score/ annual credit report] . So obtain the facts straight so your VantageScore will be centered on your spending habits and accurate information about you.