{"id":6674,"date":"2016-02-15T20:52:09","date_gmt":"2016-02-15T20:52:09","guid":{"rendered":"\/?p=6674"},"modified":"2018-12-28T20:29:22","modified_gmt":"2018-12-28T20:29:22","slug":"why-your-vantage-score-is-just-as-important-as-your-fico-score","status":"publish","type":"post","link":"https:\/\/financeguidetoday.com\/credit\/credit-scores\/why-your-vantage-score-is-just-as-important-as-your-fico-score\/","title":{"rendered":"Why Your Vantage Score Is Just As Important As Your FICO Score"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Everyone is pretty familiar with what a FICO credit score is. But there\u2019s a new credit scoring agency in town, and in the next few years it may replace the FICO score all together. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">What most people don\u2019t understand is that there are many agencies who produce credit scores. FICO is just the most popular one used. But in the past several years, lenders have been using a consumer\u2019s VantageScore to determine credit worthiness. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">VantageScore is a relatively new credit scoring agency designed to give more choice in the marketplace. VantageScore is growing in popularity mainly due to its simplified scoring method. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">For consumers with weak credit history, this may be a good thing. This company looks back at the past 24 months of a person\u2019s credit history, while FICO may go back decades. This is useful for a borrower who may have had derogatory marks made years ago. This is also perfect for someone who is just establishing credit for the first time. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Keep in mind that Vantage scores won\u2019t wipe away a track record of bad credit. You still have to prove you\u2019re financially responsible. The goal here is to level out the playing field more in the favor of borrowers.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Everyone is pretty familiar with what a FICO credit score is. But there\u2019s a new credit scoring agency in town, and in the next few years it may replace the FICO score all together. What most people don\u2019t understand is that there are many agencies who produce credit scores. FICO is just the most popular [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7098,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[],"_links":{"self":[{"href":"https:\/\/financeguidetoday.com\/wp-json\/wp\/v2\/posts\/6674"}],"collection":[{"href":"https:\/\/financeguidetoday.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/financeguidetoday.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/financeguidetoday.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/financeguidetoday.com\/wp-json\/wp\/v2\/comments?post=6674"}],"version-history":[{"count":0,"href":"https:\/\/financeguidetoday.com\/wp-json\/wp\/v2\/posts\/6674\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/financeguidetoday.com\/wp-json\/wp\/v2\/media\/7098"}],"wp:attachment":[{"href":"https:\/\/financeguidetoday.com\/wp-json\/wp\/v2\/media?parent=6674"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/financeguidetoday.com\/wp-json\/wp\/v2\/categories?post=6674"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/financeguidetoday.com\/wp-json\/wp\/v2\/tags?post=6674"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}