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March 12th, 2013
06:55 AM ET

MYB: VantageScore overhauling credit scoring model

Zain Asher is minding your business with a report on a new credit scoring system from VantageScore that could help millions of people. "Essentially, it’s gonna be more forgiving to anybody who is seriously in debt or has no credit history in this country.”

Currently, seven out of ten financial institutions use VantageScore, Asher reports. “But the bottom line is, you can't really control which scoring system your financial institution's going to be using,” she says. "So, you still have to make your payments on time.”

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