Equifax Sales Agent
Looking for a price-competitive option for credit scoring?
Here is a basic summary of the credit scoring models available to date. Our industry and market experts can help you evaluate the best scoring model for your business to ensure you’re receiving a fast, reliable, and objective measure of credit risk.
FICO® Score Models
FICO solutions can empower you to make smarter, personalized decisions, streamline operations, and improve the customer experience. You can use the chart below as a guideline for which FICO® Score version is most relevant for the type of credit or loan you’re granting.
- FICO v5 – The only score accepted in federal mortgage underwriting.
- FICO v8 – Changes in treatment of collection items under $100. They are not considered when calculating the FICO Score, and paid collections are not considered.
- FICO v9 – Changes in treatment by collection type, medical collections are treated differently than non-medical collections. Paid collections are not considered.
- FICO v10 and 10T – Newly Released in 2020
Already using FICO® Scores but considering an upgrade? Contact us to see if a switch is right for you.
VantageScore by Equifax
VantageScore is a predictive scoring model that leverages national consumer credit data and robust analytics to predict the likelihood of a consumer becoming 90+ days delinquent within 24 months of scoring. By combining granular data from the three nationwide Credit Reporting Companies (CRAs) with industry-leading analytics, VantageScore delivers a consistent, easy-to-interpret score to support deeper risk assessments and quickly identify consumers’ credit profiles.
The latest version 4.0 sets a new standard for predictive performance and modeling innovation including:
- Trended credit data to take into account the trajectory of borrower behaviors
- Patent-pending machine learning techniques to generate a more accurate credit score for those with sparse credit histories
- Alignment with changes in credit-bureau handling of public records and collections data under the National Consumer Assistance Plan (NCAP)
VantageScore creates instant competitive advantage by enabling your business to:
- Strengthen predictive ability
- Expand marketing universe of qualified targets
- Evaluate thin-file and no-file consumers with confidence
- Optimize account management and overall portfolio performance
- Minimize risk exposure
Looking for a price-competitive option for credit scoring? Let’s discuss how VantageScore can help you in decisioning for a fraction of the cost.