Vantage Score vs. FICO

What is the difference between Vantage and FICO score?

1 Answer

The difference between a Vantage Score and a FICO score is simply a brand name.  They are simply two different  versions of a credit score.

FICO stands for Fair Isaac Corporation.  They were the creator of the mainstream standards for credit scoring that is used today by creditors and lenders.

Vantage is a new credit scoring model developed by the three credit bureau agencies - Equifax, Experian, and Transunion. 

It is believed that the three credit bureaus developed a new scoring system to compete with Fair Isaac Corporation in marketing this product and to enhance credit-scoring algorithms.  The Vantage Scoring model has yet to be adopted industry-wide since it's inception in 2006. 

Most Americans are not aware that each creditor and each lender subscribes to a different credit scoring product and a different credit scoring version. Just as Microsoft has Windows XP and Windows Vista, Fair Isaac Corporation has different versions of it's FICO product.  This leads to one's credit score being different from one place to the next. 

At the same time, it should also be noted that when you as a consumer access your credit score, it is an educational score and is also different from what a creditor or lender would see.