Credit Score Comparison: Two Models

A Comparison of Two Well Known Credit Scoring Models

Range: Both scores have a range of 300 to 850. The higher the score, the better the credit.

Payment History: History of on time payments is critical to having a good score, whether it is a Vantage^® score or a FICO^® score.

Trending Data VS Fixed Data: Vantage^® scores are partially based on the last two years of credit utilization and spending - how much of your available credit you use. FICO^® scores consider your utilization as of the date your credit report is pulled.

Inquiries: A Vantage^® score considers how many times you have requested credit in a 14 day period. All credit card, or mortgage or auto loan applications are grouped together and counted as one, during this time frame. FICO^® does not group together credit card inquiries. They do group mortgage and auto loan requests, but the time frame varies depending on the FICO^® model being used.

Establishing a Score: To have a Vantage^® credit score you need one credit based account (credit card, auto loan, mortgage, etc.) to be reported to a credit bureau. A score can be generated in as soon as one month. A FICO^® score can be generated based on the same types of accounts, but it takes at least six months of payment history to receive a score.

Published Oct 10, 2019.