This story details an anonymous individual that is a millennial from Chicago, Illinois. After being bombarded with credit card offers during the first few years in college, I learned just how easy it is to accumulate debt. More importantly, the cost associated with being inexperienced in managing credit card debt. I had zero experience while growing up, despite the fact I grew up in n upper-middle-class family with both parents. I ended up with roughly […]
VantageScore is the first-ever only tri-bureau scoring model to incorporate trended credit data. The model utilizes machine learning to give lenders extra confidence to extend loans to consumers who would otherwise be left out. With this technology, VantageScore expands mainstream lending making it extremely easier to implement. So What’s different about VantageScore? One of the main features that make VantageScore different from all other credit scoring models is its consistency, accuracy, and more importantly, it’s […]
Has the plight of the conventionally unscorable worsened? Unfortunately, based on a recent VantageScore analysis, it has been exacerbated. The overall population in America has increased dramatically, even though the last decade has seen the slowest growth rate of all times. As the overall population has increased, so has the number of consumers who are not scoreable when conventional credit scoring models are used. Indeed, according to the Consumer Financial Protection Bureau, about 1 in […]
Many people just know that a credit score is just a number, but they really do not know what that number really means. Credit scores play a crucial role in a consumer’s financial health. Many financial institutions use these credit scores generated by credit scoring companies like VantageScore along with other major and minor financial information to make a decision on whether to deny or approve a consumer for a loan and what terms to […]
