Credit Scores

Credit Scores

1. What is a Credit Score?

  • A credit score is a three-digit number that reflects your creditworthiness.

  • CreditVana uses the VantageScore® model (300–850 range).

  • Higher scores = lower credit risk for lenders.

2. Score Ranges

  • 300–579 → Poor

  • 580–669 → Fair

  • 670–739 → Good

  • 740–799 → Very Good

  • 800–850 → Excellent

3. Factors That Influence Your Score

  • Payment History (35%) → On-time vs. missed payments

  • Credit Utilization (30%) → Balance-to-limit ratio (keep below 30%)

  • Length of Credit History (15%) → Average account age

  • Credit Mix (10%) → Variety (credit cards, loans, mortgage)

  • New Credit (10%) → Recent inquiries or accounts

4. How Often Scores Update in CreditVana

  • Free Plan → Monthly refresh from Experian

  • Premium Plan ($3.99/mo) → Daily updates from all three bureaus (Experian, TransUnion, Equifax)

5. Why Your Score May Differ Across Platforms

  • Different scoring models (VantageScore vs FICO®).

  • Not all lenders report to all three bureaus.

  • Data refresh times may vary.

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