Some borrowers who are deemed subprime by traditional credit scoring criteria are actually quite creditworthy and are identified as prime or near-prime consumers when using the more inclusive VantageScore®. Based on a VantageScore Solutions’ study of infrequent users of credit, 15.5 percent were found to have either prime or super-prime risk. In addition, among new entrants to the credit scene — including students who recently graduated, immigrants and recently divorced consumers — 26.5 percent were found to have either prime or super-prime risk profiles.
Learn more about VantageScore Solutions, identified as a Preferred Partner by the National Association of Federal Credit Unions (NAFCU).
Source: VantageScore Solutions summer 2012 newsletter, The Score
VantageScore® is owned by VantageScore Solutions, LLC.
