Ignore the “VantageScore,” by 720 Credit Score

There’s a lot of talk about the new scoring model called VantageScore. Proponents say that it will boost your score and help people with no credit history build a strong credit score.
Here’s the bottom line: don’t even clutter your mind.
Now… the back-story for those that want it:
Until the majority of lenders are using a new scoring model, the FICO score will remain the main credit scoring system out there.
As of right now, major lenders like Fannie Mae and Freddie Mac are not using VantageScore. In fact, I have never met a single lender who does use VantageScore.
When deciding whether to extend a loan to you, your potential creditors want to know how risky you are. Currently, the model they use to determine your creditworthiness is FICO, and almost exclusively FICO.
So if you want to qualify for a loan, or if you want to qualify for better terms on your existing loans/credit cards, you must follow the FICO model and demonstrate the behaviors that will boost your FICO score.
Ignore everything else because it will not make an ounce of difference if you lender is not looking at it.  All it will do is paint an unrealistic picture of what loan terms you can expect.
I want you to focus on reality. And the reality is this: Almost every lender out there relies on FICO and only FICO when determining a credit score.
If you have any questions about how the credit-scoring models work, be sure to leave a comment on my blog.