The three national credit bureaus have developed a rival to the well-known FICO credit score. The credit bureaus say their scoring model will be easier for consumers to understand and will offer more consistent scores.

The product, called VantageScore, is the result of a joint venture of Equifax, Experian and TransUnion, the three national credit bureaus. Representatives from the three companies say VantageScore will have an intuitive scale, from a low of 501 (reflecting absolutely horrible credit history) to 990 (the credit equivalent of getting straight A's from kindergarten through college).
Furthermore, VantageScore scores will be calculated the same way for each credit bureau or lender, the representatives say. If your VantageScore from Experian is 850, it will be 850 from Equifax and TransUnion as well, as long as they're basing the score on exactly the same information.
That's not always the case with FICO scores, because credit bureaus and lenders use slightly different scoring formulas and even different scales. Some top out around 850, while others top out around 900. They also have different data to base those scores on. For instance, while the company that loaned you money for a car might report your payments to Equifax, it may not report payments to Experian.