VantageScore on Wednesday announced the release of VantageScore 5.0, a new tri-bureau credit scoring model that the company says is designed to improve lenders’ ability to assess consumer creditworthiness, particularly for unsecured loans and auto financing.

The new model is available through the three major U.S. credit reporting companies — Equifax, Experian and TransUnion — and is built using post-pandemic consumer credit data. VantageScore said it better reflects changes in borrowing behavior since 2020.

According to the company’s press release, VantageScore 5.0 provides up to a 9% improvement in predictive performance details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com