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Boosting Predictive Power Using Multiple Scores in the Credit Invisible Population

Tens of millions of consumers in the United States are part of the “credit invisible” population, those who are unable to receive a conventional credit score. However, by using the VantageScore® 3.0 universe expansionscoring method, these consumers can now be scored. This paper demonstrates that by evaluating VantageScore 3.0 from three independent sources (i.e., Credit Reporting Companies or “CRCs”), lenders can easily boost the predictive level of risk assessments – by more than 20 percent for a quarter of consumers who are typically credit invisible – to the accuracy levels that are obtained when assessing the default risk of consumers with full credit files who are scored by typical generic credit scoring models.

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