Software & Finance - Monthly Magazine Online

Volume 2 - Issue 3

March 2012

March 2012 - Economics - FICO and Vantage Credit Scoring Models


Every one knows the credit score is being monitored by Equifax, Experian and Transunion. But only few people know the scoring system is getting changed to Vantage Score from FICO. Currently transunion and experian is giving only vantage score from their website. But lenders might still be depending on legacy FICO score model.



FICO score is based on,

1. Your payment history - 35%
2. Length of your credit history - 15%
3. Amounts Owed - 30%
4. Credit Types - 10%
5. New Credit - 10%

Vantage Score is based on,

1. Your payment history - 32%
2. Utilization - 23%
3. Balances - 15%
4. Credit Depth - 13%
5. Recent Credit - 10%
6. Available Credit - 7%

The vantage score ranges from 500 to 990 where as FICO score ranges from 300 - 850.


Currently myfico.com is offering for you to check your FICO score.