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Treecey

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Vantage score 710 & credit score is 580?
Vantatage is high and fico is low, which one really counts to get credit and loans. I need a newer car and need to know how to raise both for a better APR?
I have old debt from my 20's still being readded every 7 yrs.

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Vantatage is high and fico is low, which one really counts to get credit and loans?

While FICO is currently more widely used, all three credit bearus are pushing Vantagescore. However, the one that "really counts" is whatever your lender chooses - it can be a custom score created by that lender and used only by that lender.

I need a newer car and need to know how to raise both for a better APR?

While the exact formula varies from lender to lender, improving your credit file will improve your standing in every scoring system. Detailed explanations are below, but the most important are to imrpove your utilization and dispute that debt (if possible).

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Open Credit Card Utilization

This is the single fastest way to raise your credit score - a precentage comparing your credit card usage to your credit limits (50% would be half full, 100% would be evry card is maxed, 110% would be over limit). Oddly enough, 0% is considered "ok", a "perfect score" in this catagory is 1%. Having no credit cards is acutally worse than being overlimit.

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Percent of On-Time Payments

A very important value on your credit report. Missing ONE payment by 30 days or more can cost you 50 points! As this is a precent value, there isn't much you can do to improve but pay on time and wait - the more accounts you have the faster this increases (because you have more payments being added each time).

Average Age of Open Credit Lines

The older your open accounts are, the better. Note that it is an average and not just your oldest account - opening new accounts will decrease this value. There isn't much you can do to improve this but wait.

This is modrately important to your credit score.

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Total Accounts

Every account you have open adds a few points to your score. Adding a new "type" of loan (example: an auto loan when you don't hany any auto loans) adds more points than usual.

This has the least overall effect on your score, so it isn't worth it to open accounts in a freny to increase this amount (it would take hundreds to have a good credit score based on accounts alone).

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Hard Credit Inquiries

Applying for credit will usually add a hard inqury to your report. Note that applying for more than one auto loan within the same 45 days only counts as one inqury for the sake  of scoring.

These fall off after two years. The effect is relativly small.

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Derogatory Marks

I have old debt from my 20's still being readded every 7 yrs.

^That is a good example of a Derogatory Mark. If it isn't federal debt in any way, you should be able to dispute that debt. Every mark will take off large amounts of points.

They can be removed by winning a dispute, or waiting for them to expire.

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