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What is VantageScore 3.0? Who uses it?

VantageScore 3.0 is the latest scoring model from VantageScore Solutions. VantageScore was created collaboratively by the three major credit bureaus: Equifax, Experian and TransUnion. It’s part of an effort to make information more uniform between the three bureaus so consumers have a better, more consistent picture of their credit health.

Credit Karma provides VantageScore 3.0 credit scores that are calculated by TransUnion and Equifax.

Who uses it?

VantageScore scores are widely used by U.S. banks and financial institutions. Between July 2015 and June 2016, more than eight billion VantageScore credit scores were used by over 2,400 lenders and other industry participants, including 20 of the top 25 largest financial institutions.

A Note About Credit Scores

VantageScore 3.0 is just one of many credit scoring models out there. They all typically use similar information from your credit report, but they may weigh each factor differently, resulting in different scores. Though your credit score can give you a snapshot of where you stand, knowing what’s in your credit report can give you better insight into your credit health.

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