FICO VS Vantage

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There are two types of credit scores method: The FICO score and the Vantage score.


The FICO score which was founded in 1956 requires an open account for six months. Vantage which was founded in 2006 requires only one account open for one month only.


Even though the credit scores have some similarities like the general criteria and the weight of each individual factor, it has also its differences.


One of its differences is its model range. According to Shawn Lane, the FICO method ranges from 300 to 850 while the Vantage has a score range between 300 and 850.


The FICO is used by most banks and creditors because it has specific models for each lender. For example, the FICO that a credit card lender sees is different from the FICO that the mortgage lender sees.


The Vantage is mostly used by consumer credit score sites.


However, let us remember that no matter what model of credit scoring that they will use, as long as you are consistent in paying your bills on time, you rest assured that you will have a good credit score.