What Credit Score Do Lenders Use?

Find out which credit score lenders use when considering your loan application.

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There are many different credit scores that lenders use when considering a loan application. The most common scoring model is the FICO® Score, which ranges from 300 to 850. However, there are also other scoring models in use, such as the VantageScore®, which ranges from 501 to 990.

It’s important to understand that each lender may use a different scoring model when reviewing your application. That’s why it’s important to know your credit score before you apply for a loan. That way, you can be sure that you’re getting the best rates and terms available.

What is a credit score?

A credit score is a numerical expression based on a statistical analysis of a person’s credit files, to represent the creditworthiness of that person. A credit score is primarily based on credit report information, typically from one of the three major credit bureaus: Experian, TransUnion, and Equifax. Lenders, such as banks and credit card companies, use credit scores to evaluate the potential risk posed by lending money to consumers. Widespread use of credit scores has made credit more widely available and less expensive for many consumers.

What are the different types of credit scores?

There are several different types of credit scores that lenders may use when considering a loan application. The most common is the FICO® score, which is produced by the Fair Isaac Corporation.

Other popular credit scoring models include the VantageScore® and the Experian PLUS® score. Each of these scoring models uses different information and weights it differently to produce a score that lenders can use to assess risk.

For example, the FICO® score considers your payment history, credit utilization, length of credit history, and more when calculating your score. On the other hand, the VantageScore® only considers your payment history and length of credit history when calculating your score.

The type of credit score that a lender uses is often dependent on the type of loan that you are applying for. For example, most mortgage lenders will use a FICO® score when considering a loan application. However, some auto lenders may use a different type of credit score, such as the Experian PLUS® score.

It’s always a good idea to know what type of credit score a lender is looking at before applying for a loan. That way, you can be sure that you are using the right scoring model to track your progress and maximize your chances of getting approved for a loan.

What credit score do lenders use?

Lenders use different credit scores when considering loan applications. The most common credit score is the FICO® Score, which is used by more than 90% of lenders. However, some lenders also use alternative credit scores, such as the VantageScore®, in addition to the FICO® Score.

The credit score that a lender uses depends on the type of loan you are applying for. For example, mortgage lenders almost always use the FICO® Score, while auto lenders may use either the FICO® Score or the VantageScore®.

There are many factors that go into a lender’s decision to approve or deny a loan application. In addition to the borrower’s credit score, lenders will also consider factors such as the borrower’s income, employment history, and debts.

How can I improve my credit score?

There are a number of things you can do to improve your credit score, including paying down debt, making on-time payments, maintaining a good credit history, and using a credit monitoring service. You can also get help from a credit counseling or credit optimization service. By taking these steps, you can improve your credit score and get better terms on loans and other forms of credit.


The bottom line is that there is no one “true” credit score. Lenders can (and do) use different scoring models to evaluate loan applicants, and each model may place a different emphasis on the various factors that make up a credit score. As a result, it’s impossible to say definitively which credit score a lender will use in any given situation.

That said, if you have a good credit score from one of the major credit reporting bureaus (Experian, TransUnion, or Equifax), you’re likely to have a good credit score with most lenders. So if you’re not sure which credit score a lender will use, your best bet is to focus on maintaining a strong credit history with all three bureaus.

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