Components of VantageScore 3.0 Model

VantageScore 3.0 is the next widely used model for determining your credit score. VantageScore Model 4.0 came out in 2017, but it’s not commonly used by lenders.

Here is a brief overview:

Payment History 40%

As with FICO, the VantageScore Model places the strongest weight on payment history, making timely payments crucial to your score.

Length of Credit History & Credit Mix 21%

This model combines age and mix and gives it a strong value. A healthy mix ( credit cards, car loans, mortgage loans, and retail accounts, etc.) presents the ability to handle  credit responsibly  and the age of credit demonstrates experience with debt. Here’s how to calculate your credit age.

Credit Utilization 20%

Credit utilization is third on the list, but its percentage is reduced by 10%. Maintaining a low credit utilization rate to less than 30% is the goal. Calculating it is simple.

Balances 11%

The amount of debt owed regardless of payment history has an impact on the score.

New Inquiries 5%

Hard inquiries or recent applications for new credit have a stronger impact in this model than in the FICO.

Available Credit 3%

The available balance on credit cards is singled out with this model, but is given a low percentage.

Mindful Reminder

Remember to keep your eye on what’s important. If worrying about your credit score is keeping you up at night, then it might be time to shift the focus to yourself. Taking care of yourself helps you to have a clear mind which in turn helps you to make better financial decisions hence a better credit score.

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Irby, Latoya, The Balance. (2022). Vantagescore credit score overview. Retrieved from:

Slack, Mark, Finance Jar.  (2022). Vantagescore 4.0: how it works and what your credit score means. Retrieved from:

VantageScore. (2022). Why vantagescore?. Retrieved from: