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What is the VantageScore® 3.0 Credit Score?
VantageScore® is a credit score that was developed by the three national credit reporting companies (CRCs) — Experian, TransUnion and Equifax — using approximately 45 million anonymous credit files. Data, which was pulled equally from the three CRCs, included public record information, collections information, tradeline data, and inquiries. Unlike other scoring systems, the VantageScore® credit score is the most consistent, using only one model with one set of scoring calculations—this results in scores that are more uniform across all three CRCs.

What range is used for the VantageScore® 3.0 Credit Score?
VantageScores are on a range of 300 to 850, which is the same range as a typical FICO score. A score closer to the maximum 850 means better credit.

The proprietary VantageScore formula is applied to the data on applicants’ credit reports. AppFolio screening reports use Experian credit reports.

What is the difference between VantageScore® and FICO®?
VantageScore® and FICO® created scoring models - software that can analyze a credit report to generate a credit score. The consumer risk score that VantageScore and FICO® create have the same goal: to predict the likelihood that a person will fall at least 90 days behind on a bill within the next 24 months.

Minimum Scoring Requirements

For VantageScore to create a credit score based on a consumer's credit reports, they’ll need to have credit histories in the last 24 months.

For FICO® to create a credit score based on a consumer's credit reports, they’ll need to have a credit account (or "tradeline") that's at least 6 months old and activity on a tradeline during the previous six months (they don't need to be the same tradelines).

The Importance of Different Credit Scoring Factors

FICO® Scores consider 5 main categories of credit data from consumers’ reports: Payment history, amounts owed, length of credit history, new credit, and types of credit in use. While VantageScore® 3.0 considers 6 main categories of credit data from consumers’ reports: Payment history, depth of credit, utilization, balances, recent credit, and available credit. Within each category, FICO® and VantageScore may take different approaches to how they use or weight specific pieces of information. Three examples are how the scores treat revolving account balances (or credit utilization), collection accounts and hard inquiries.

What is a “good” VantageScore®?
AppFolio cannot advise on the level of risk you should take. The chart below indicates the percentage of consumers who went 60 days past due on their debt for each score range based on a two-year study of over 1 million consumers conducted by Experian from June 2014 through June 2016.

vantage-score-table
Who is scorable using the VantageScore®?
Consumers with credit histories in the last 24 months.

Why would a screening report display N/A as a credit score?
For VantageScore to create a credit score based on a consumer's credit reports, they’ll need to have credit histories in the last 24 months.

The credit score is calculated (rather than stored and retrieved) each time a screening report is returned. If there is insufficient credit history, or if the data in the history is not recent enough, the credit score cannot be calculated.

What goes into calculating a VantageScore®?
VantageScore® 3.0 considers 6 main categories of credit data from consumers’ reports: Payment history, depth of credit, utilization, balances, recent credit, and available credit.