VantageScore Solutions has released a white paper that answers frequently asked questions related to improving credit scores titled “Assume the Role of Managing Your Credit Prudently and Watch Your Credit Score Improve.” I
The paper explains how and why the scores change often, how credit-related activities affect and how to improve them.
The paper features graphics that illustrate the effect on a credit score from specific actions such as missed payments, a credit inquiry, and closing a credit account. It also supplies sample consumer profiles ranging from high to low credit scores, and those in between. VantageScore said that all types of consumers can better their scores in the short and long-term. The profiles provided in the paper can serve as examples or as a “directional guide” so that consumers can visually see how certain activities can impact their personal credit scores.
“When it comes to credit scoring, there are two questions that are most commonly asked by consumers yet rarely understood. These questions are ‘why did my credit score change,’ and, ‘how can I improve my credit score,’” said Barrett Burns, president and CEO of VantageScore Solutions. “This paper answers those questions and more, including specifics for how certain profiles of consumers are impacted by common credit activities, and how to further improve their scores or repair a damaged credit profile.”
To view the white paper, please click this link.