Late and missed payments are the single biggest factor affecting your score. Pay your bills on time every single month.If you have an average credit score or worse, it’s worth taking steps to improve your score over time. Just like FICO Scores, the higher your credit score on the VantageScore scale, the lower the risk you represent to lenders. VantageScores use a 300 to 850 credit score range. Although FICO Scores are the most popular choice among lenders, VantageScore credit scores deserve your attention too. Launched in 2003, VantageScore is a joint venture between the three major credit reporting agencies-Equifax, TransUnion and Experian. Related: FICO Score Facts You Probably Didn’t Know VantageScore Credit Score Ranges The higher your score, the lower the risk you represent to anyone who lends you money. They help lenders predict the risk of a borrower defaulting on a loan. Regardless of the range, FICO Scores serve the same purpose. Auto FICO scores, for example, range from 250 to 900. There are also industry-specific FICO scoring models that use a different scale. A good credit score is pretty similar between FICO and VantageScore scoring models with a few key differences: FICO Score RangesįICO is the oldest and most widely used credit score brand and uses a scoring range of 300 to 850. In the United States, there are two popular credit score brands that compete in the lending marketplace: FICO and VantageScore.

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