Vantage credit score rating scale is as follows:
901 to 990 â€“ A
801 to 900 â€“ B
701 to 800 â€“ C
601 to 700 â€“ D
501 to 600 â€“ F
There is no rating denoted E.
As you can see if you have a 700 score here you're not looking that great. You need to find out what system the credit reporting agency is using. Also did you get scores from Transunion and Equafax as well?
A credit score is a number that reflects your credit risk level, typically with a higher number indicating a lower risk. Your VantageScore is generated from elements on your personal credit report which are run through a scoring model that uses your past credit behavior and current credit relationships to predict likely future behavior. Your credit score changes as the elements in your personal credit report change over time.
Because your score is based on information in your personal Experian credit report, it is important that you review your personal Experian credit report for accuracy.
VantageScore from Experian
This VantageScore is based on information from your Experian credit report.
Information often differs among the three national credit bureau reports. As a result, your VantageScore based on those reports may vary.
Your VantageScore is: 893 on a scale of 501-990. Your Risk Grade is: B
Your Credit Category is:
VantageScore is the credit industryâ€™s first credit score developed jointly by the three national credit bureaus. This innovative new approach to credit scoring simplifies the credit granting process for consumers and creditors by providing a consistent, objective score to the marketplace. Credit scoring is used to help potential lenders and users of credit reports quickly measure your credit worthiness and decide the type of risk they are taking by doing business with you. In addition to your credit score, lenders may also consider other factors such as your income, assets, length at current residence and employment history. There are many different scoring models used in todayâ€™s marketplace and different criteria used by different lenders. Regardless of what scoring model is used, they all have one purpose: to summarize your credit worthiness.
What your VantageScore means:
I'm an agent working in the San Fernando Valley and I've been selling homes here since 1979 (!!). I work with a truly great lender who would be happy to speak with you. I think with a 700 FICO you should be able to get a loan without too many hurdles to cross. The lenders are now making loans to clients with FICOs over 640 with just 3.5% down payment.
Let me know if I can help you. My cell is 818-681-2678.
Millennium RE Services
Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors