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Obi1ka

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what is the defferent between fico and vintage score

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credit scores

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No one really knows the formula behind the fico score (Fair Isaac Credit Score) and the Vantagescore credit score  (Which was design by the 3 credit reporting Agencies). However one of the most important difference is when trying to obtain a mortgage most lenders will base their acceptance and interest rates off of the fico score.   

The fico score does show what is weighted more such as;

Payment history is 35%.   Amounts owed is 30%.  Length of credit  history is 15%.  New credit is 10%. Types of credit use is 10%

For Vantagescore they list things as influentIal factors such as;

Extremely influential, payment history.   Highly influential, age and type of credit % of credit limit used. Moderately influential, total balance/debt. Less influential, recent credit behavior and inquiries and available credit. 

So this is at least what is weighted and factored in to the fico score and Vantagescore credit score. I hope this helps.

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Good question

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Here's a good explanation! http://blog.credit.com/2013/01/fico-v-vantagescore-5-differences-you-should-know-64279/ I hope this helps!

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Different Scoring models

The VantageScore 3.0 was put together by the 3 credit reporting agencies in an attempt to streamline the process.  As long as the same information is reported across all 3 reports, the scores should be the same.   

With FICO, there are MANY scoring models.   Mortgage, Auto, Credit Card (and variations on all of those).

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