VantageScore

VantageScore

Can 20th–century credit scoring models really address the new economic realities of the 21st century? By the early 2000s, many lenders had begun to worry that the old ways of scoring customers really were getting, well, old.

In response, the three national credit reporting companies (CRCs), Equifax, Experian and TransUnion, joined forces to create a new, more advanced credit scoring solution. The result: the first VantageScore credit scoring model.

Introduced in March 2006 and given major upgrades in 2011 (VantageScore 2.0 model) and 2013 (VantageScore 3.0 model), the highly predictive VantageScore model uses an innovative, patented and patent-pending scoring methodology. It provides lenders and consumers with more consistent credit scores across all three major credit reporting companies and offers the ability to score more people than traditional scoring models.

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