In a Nutshell
FICO® scores are commonly used by lenders, but FICO® scores aren’t the only measure of where your credit stands. Here are some key things to know about the different types of credit-scoring models.
You’ve got many credit scores — including potentially dozens of different FICO scores — that lenders and creditors may use when making lending decisions.
That’s why understanding the difference between a general “credit score” and a “FICO score” is important for navigating your financial health. We’ll break down the distinction, clarify how your scores are determined and explain why you might see varying numbers depending on where you look.
- Is a FICO score the same as a credit score?
- What is a FICO® score?
- How accurate is a FICO® score?
- How does VantageScore compare to FICO?
- FAQs about FICO scores vs. credit scores
Is a FICO score the same as a credit score?
Your FICO score is a credit score — and you actually have more than one. If your FICO scores differ from other credit scores you see, it’s likely because the scores you’re viewing were calculated using a different scoring version or model. Those versions may have different information from each other.
While many lenders use a version of your FICO scores to evaluate your credit, many also use other scoring models such as VantageScore or their own proprietary methods.
Learn more about why your credit scores may differ.
What is a credit score?
A credit score is a three-digit number that summarizes your credit risk, helping lenders assess your likelihood of repaying borrowed money. It’s generated from the information in your credit reports, reflecting your financial behavior and history.
But it’s important to understand that you have many different credit scores, not just one. Each score offers a slightly different look at your financial health, and no single score gives the complete picture. That’s why you’ll see score variability — differences in the numbers you might get from different sources.
Lenders often use specific scores tailored to the type of financial product you’re seeking. For example, if you’re applying for a car loan, your potential lender will likely pull an auto loan-specific credit score rather than a general one.
What is a FICO score?
FICO — the Fair Isaac Corporation — is a company that creates scoring models used to calculate credit scores. A FICO score is a three-digit number that lenders use to assess a borrower’s credit and predict their likelihood of repaying debt on time.
In addition to its base versions, FICO also offers industry-specific scoring models (and scores) for distinct credit products, such as auto loans, credit cards and mortgages.
What factors affect your FICO scores?
Your FICO score is calculated based on a number of factors:
- Payment history
- Amounts owed
- Length of credit history
- Mix of accounts
- Inquiries for new credit applications
What is the FICO score range?
Base FICO scores range from 300 to 850. This is the range of scores for FICO® Score 8, a common model:
- Exceptional: 800+
- Very good: 740 to 799
- Good: 670 to 739
- Fair: 580 to 669
- Poor: 579 and below
Industry-specific FICO scores — including FICO® Auto Score 8 and FICO® Bankcard Score 8 — have a broader range of 250 to 900. These scores are tailored to specific types of credit.
There are several ways to get check your FICO scores for free, including from various credit card issuers.
How accurate is a FICO score?
FICO scores are based on the information in your credit reports. The accuracy of your scores will depend on factors such as which FICO score version is being used, the credit bureau your report is pulled from and whether your credit reports have up-to-date information.
Errors on your credit report could also affect the accuracy of your FICO scores.
Why your credit scores may differ from one another
Your credit scores can vary from one another for a number of reasons.
Each of the three major credit bureaus — Equifax, Experian and TransUnion — might have slightly different information in your credit report since not all lenders report to every bureau. They also may weigh that information differently based on the credit-scoring model they use.
Even the timing of when your account information is reported to the credit bureaus can affect your credit scores.
Because of these differences, the three-digit scores you see will naturally vary some, even though they all aim to measure how likely you are to repay debt.
How does VantageScore compare to FICO?
VantageScore Solutions was created in 2006 as a joint venture of the three major consumer credit bureaus. There are five VantageScore models, including the most recent version: VantageScore 5.0.
Like FICO, you have many VantageScore credit scores. If you are viewing your free credit scores on Credit Karma, the scores you see are from the VantageScore® 3.0 scoring model.
Many banks, lenders and credit card issuers, including top banks and card issuers, use VantageScore to help evaluate credit.
The VantageScore® model incorporates many of the same factors that are used when calculating your FICO scores, although it may assign a different weight to certain factors.
Keep in mind that to generate a score for you, FICO requires that you have at least one account opened for six months or more and at least one account reported to the credit bureaus within the previous six months.
VantageScore, on the other hand, may be able to provide you a score using just one account and one month of credit history.
VantageScore 3.0 credit score ranges
- Excellent: 781 to 850
- Good: 661 to 780
- Fair: 601 to 660
- Poor: 500 to 600
- Very poor: Below 500
Credit score factors: FICO vs. VantageScore
| FICO | VantageScore |
|---|---|
| Payment history: 35% | Payment history: 40% |
| Amounts owed: 30% | Age and type of credit: 21% |
| Length of credit history: 15% | Percentage of credit limit used: 20% |
| New credit: 10% | Balance: 11% |
| Credit mix: 10% | New credit: 5% |
| Available credit: 3% |
Next steps
Keep in mind that you have many different credit scores, and each provides a slightly different snapshot of your financial health. Lenders may also take into account additional factors such as your income, employment status or the economic climate when they evaluate your application.
Your credit scores can also differ based on what information is reported to the different credit bureaus — and even the timing of when that information is reported.
Credit Karma provides free credit scores and reports using the VantageScore 3.0 model from two of the major credit bureaus: Equifax and TransUnion. Reviewing your reports regularly from multiple bureaus and scoring models can help you build your credit and spot potential errors or fraud.
You can also check your credit reports for free yearly from each of the three major credit bureaus at annualcreditreport.com.
FAQs about FICO scores vs. credit scores
A FICO score is a specific type of credit score generated by the Fair Isaac Corporation. Other companies, including VantageScore, have their own credit scoring models. While each calculates your score differently, they all use information from your credit reports.
Your FICO score can vary across different sites primarily because of differences in the data held by the three credit bureaus — Experian, Equifax and TransUnion — and the specific FICO score version being used. The timing of when your account data was reported to each bureau can also lead to differences.
Your FICO score is not inherently more important than your other credit scores. You have many credit scores from a variety of scoring models and versions, including FICO and VantageScore.
A good FICO score generally falls within the range of 670 to 739. While scores higher than this are considered very good (740-799) or exceptional (800-850), a score in the good range typically allows you to qualify for a wide variety of loans and credit products with favorable interest rates.
It’s important to know that your FICO score is just one type of credit score. While many lenders use FICO scores, many others use scoring models like VantageScore, or even their own proprietary methods tailored to their specific products or risk assessments.