FICO® and VantageScore® – What’s the Difference?

At Soft Pull Solutions, we can provide whatever scoring model you need. We can also get you access to whichever credit bureau you need (Experian, TransUnion, and Equifax). However, regarding credit scores, we are often asked: “What’s the difference between a FICO Score and a VantageScore?” While both are widely used credit scoring models, understanding their distinctions can help your business choose the right solution for your needs.

What Is a FICO® Score?

FICO® Scores have been the industry standard in lending for decades. Developed by Fair Isaac Corporation, they are widely relied upon by lenders to make decisions on mortgages, auto loans, credit cards, and other forms of credit. Many financial institutions trust FICO for its long-standing reputation and proven track record in risk assessment.

FICO®  Key Points:

• Trusted and widely used by lenders
• Available in multiple versions (e.g., FICO® Score 2, FICO® Score 4, FICO® Score 5, FICO® Score 8, FICO® Score 9, and FICO® Score 10)
• Offer different options that might be tailored to your specific industry
• FICO scoring models have seen several pricing adjustments recently, leading many businesses to explore additional scoring options
• Scoring models can vary depending on the credit reporting bureau

What Is a VantageScore®?

VantageScore® was developed jointly by the three major credit bureaus—Experian, Equifax, and TransUnion. It’s designed to provide a more consistent score regardless of which bureau you use.

VantageScore®? Key Points:

• Created by all three bureaus for consistency
• Ideal for businesses that prefer to pull credit from a single bureau, helping reduce costs by avoiding reports from all three
• Often more cost-effective than FICO
• Typically uses trended credit data (bigger emphasis on payment history over a longer period)
• Scores can differ from FICO by several points due to different scoring criteria

Which Credit Score Should You Use?

FICO® Scores remain the preferred option for businesses where lender alignment and credit precision are top priorities. If you’re aiming to view the same score as your lender, then you likely want a FICO score. However, VantageScores® offer a budget-friendly and reliable option for businesses that wish for broad bureau coverage and a modern scoring approach.

We encourage all our clients to ask their lending partners which credit scoring models they use during the underwriting process. Soft Pull Solutions offers both FICO and VantageScore options, and we're proud to support all three of the national credit reporting agencies.

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