VantageScore

A fair credit score, defined as 580-669 in the FICO model and 601-660 in the VantageScore model, is below the U.S. average of 714. Lenders view fair credit as risky, leading to higher interest rates, but improvement is possible by focusing on factors like payment history and credit utilization. FICO and VantageScore differ in weightings and ranges for determining creditworthiness.

WalletHub's rent reporting service allows renters to have their payments reported to TransUnion, potentially boosting credit scores by up to 150 points. Only 13% of renters currently have their payments reported, and utility bill reporting is also available through some services.

John Kiernan of WalletHub explains that reporting rent payments to TransUnion via services like WalletHub can boost credit scores by up to 150 points, with research from VantageScore supporting this claim. Only 13% of renters currently have their payments reported, and utility bills can also be reported to build credit.

WalletHub offers a rent reporting service that adds positive credit information by syncing checking accounts, with research indicating it can boost credit scores by up to 150 points. Only 13% of renters currently have their payments reported, and utility bills can also contribute to credit scores through similar services.

The CEO of VantageScore has declared a crisis in the mortgage and housing industry, highlighting significant challenges in the sector.