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What is Vantage Score 3.0?
What is Vantage Score 3.0?
Written by True Finance
Updated over a week ago

True presents the VantageScore 3.0 credit scores and reports from Equifax.

In 2006 Equifax, Experian and TransUnion collaborated to create VantageScore® to offer more scoring consistency among the bureaus. VantageScore went through several versions before it was debuted in 2013.

VantageScore 3.0 is just one of many credit scoring models. Most scoring models use similar information from your credit report to calculate the score, but they may weigh each factor differently which may result in different scores.

Most scoring models consider similar factors to calculate your score, such as:

  • Your payment history (on-time payments)

  • How long you’ve had credit (how long your card or loan has existed)

  • The types of credit you have such as credit cards, auto loans, student loans, and mortgages. (credit mix)

  • Percentage of credit limit used (how much of your credit is utilized)

  • Outstanding debt (how much you owe)

  • Hard inquiries on your credit report (hard check during a loan application)

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