Understanding VantageScore: A Path to Financial Success
VantageScore is a three-digit number frequently used by lenders to assess your loan eligibility. Introduced by Experian, Equifax, and TransUnion in 2006, it serves as an alternative to the FICO score. A high VantageScore can increase your chances of securing loan approval and receiving favorable terms. Like other credit scores, it’s calculated based on several factors, such as payment history, credit utilization, and the number of credit lines you have.
Check out more details on the factors influencing your credit score!
Unlike other scoring systems, VantageScore prioritizes your current financial situation, focusing on available credit lines, payment performance, and more rather than the length of your credit history. This feature makes it helpful for those building their credit from scratch and those rebuilding after financial challenges.
At First United Consulting, our consultants are eager to guide you toward your financial goals, and our credit education services are completely free.
Call us today at 1-800-123-4567 and start your journey to financial empowerment!