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VantageScore

VantageScore is a consumer credit-scoring model, created through a joint venture of the three major credit bureaus (Equifax, Experian, and TransUnion). The model is managed and maintained by an independent company, VantageScore Solutions, LLC, that was formed in 2006 and is jointly owned by the three bureaus.

Unlike FICO, that requires at least six months of account data reported before a score can be established, VantageScore can generate a credit score on at least one account reported within the previous 24 months.

The current version, VantageScore 4.0 credit scores, like VantageScore 3.0 credit scores, range from 300 to 850. Earlier iterations of the VantageScore® model featured a different range, but VantageScore 3.0 adopted the 300 to 850 range — the same range as most FICO® scores — to make it easier for lenders to use.

VantageScore weighs your credit usage this way:

  • Payment History: 40%
  • Age and Credit Type: 21%
  • Credit Utilization: 20%
  • Balances: 11%
  • Recent Credit: 5%
  • Available Credit: 3%