Is VantageScore higher than FICO?

A good FICO® Score is considered anything above 670. On the VantageScore®side, anything above 700 is considered good credit. FICO® has special, industry-specific scoring ranges for credit cards and auto loans with scores ranging from 250 – 900.

Why is my FICO score so much higher than my VantageScore?

If you’ve had late payments on your credit cards, they will have about the same impact on both your FICO and your VantageScore. But if you’ve had late payments on your mortgage, you might find you have a higher FICO score than VantageScore.

How much lower is FICO than VantageScore?

While VantageScore and FICO now use the same 300-850 range, VantageScore tiers run about 50 points lower than FICO tiers.

How close is VantageScore 3.0 to FICO?

FICO Scores range from 300 to 850. At first, VantageScore credit scores featured a different numerical scale (501 to 990). However, VantageScore 3.0 and 4.0 adopted the same 300 to 850 scale that FICO uses.

Is a 700 VantageScore good?

VantageScore 3.0 ranges from 300 to 850, just like the FICO score does. According to Experian, one of the three major credit bureaus, here are the credit score ranges: Excellent: 750 to 850. Good: 700 to 749.

Why is my Vantage 3.0 score higher than FICO?

VantageScore counts multiple inquiries, even for different types of loans, within a 14-day period as a single inquiry. Multiple inquiries on your reports for the same type of loan or credit, spanning more than a 14-day period, may have a greater impact to your VantageScore® credit scores than to your FICO® scores.

Do lenders look at FICO or Vantage?

For the majority of general lending decisions, such as personal loans and credit cards, lenders use your FICO Score. Your FICO Score is calculated by the data analytics company Fair Isaac Corporation, and it’s based on data from your credit reports. VantageScore, another scoring model, is a well-known alternative.

Is VantageScore 3.0 the same as FICO?

The base FICO® Scores range from 300 to 850, while FICO’s industry-specific scores range from 250 to 900. The first two versions of the VantageScore ranged from 501 to 990, but the latest VantageScore 3.0 and 4.0 use the same 300-to-850 range as base FICO® scores.

What VantageScore is needed for a mortgage?

around 620
The minimum credit score needed for most mortgages is typically around 620.

What does a 3.0 VantageScore mean?

• 500–600 Subprime. • 300–499 Deep subprime. Strong performance across all industry segments VantageScore 3.0 delivers strong and consistent risk prediction for a wide variety of portfolios. Figure 1 indicates how the model performs overall — specifically for mortgage, bankcard and auto lending industries.

Is VantageScore accurate?

TransUnion will provide you with your VantageScore 3.0 credit score when you sign up for its credit monitoring service. VantageScore was created in partnership among all three credit bureaus — Experian, Equifax, and TransUnion. Your TransUnion VantageScore is, in fact, accurate — based on the VantageScore model.

Is Experian credit score accurate?

Is Experian Accurate? Credit scores from the credit bureaus are only as accurate as the information provided to the bureau. Check your credit report to ensure all the information is correct. If it is, your Experian credit scores are accurate.