What Is the Difference Between FICO^® Score and Credit Score?

What Is the Difference Between FICO<sup>®</sup> Score and Credit Score? article image.

FICO Scores and credit scores can be the same thing—but FICO^® also creates different products, and other companies create credit scores. You can think of a credit score as the general name for a computer model that analyzes consumer credit reports to determine a score. FICO^® offers a specific brand of credit score—a FICO^® Score^☉ —that many lenders use when determining a credit applicant's creditworthiness. But some lenders choose to make their own scoring models or use competitor's credit scores.

Is a FICO^® Score the Same as a Credit Score?

As with all credit risk scores, FICO Scores predict the likelihood that someone will fall 90 days behind on a bill within the next 24 months. FICO^® does this using complex algorithms based on information in your credit report from each of the national credit bureaus: Experian, TransUnion and Equifax.

FICO^® periodically releases new versions of its scores, and it creates different versions of its scores to work with each bureau's databases, which is why there are many FICO Scores. Other companies, including VantageScore^® , also create credit risk scores that similarly analyze consumer credit reports to calculate scores.

Credit scoring models rank consumer credit behavior, so someone with a higher score is considered less likely to miss a payment than someone with a lower score—and therefore, a higher score can help you secure better terms when you're applying for credit.

FICO^® and VantageScore credit scores range from 300 to 850, and group consumers by credit scoring ranges. For example, a FICO^® Score of 800 to 850 is considered "exceptional." However, even if they use the same range and information from the same credit report, each scoring model takes a unique approach that may result in a different score.

FICO^® also creates other types of scores that are based in part, or entirely, on your credit reports. For example, FICO^® offers credit-based insurance scores and bankruptcy scores, which try to predict the chance you'll file an insurance claim or declare bankruptcy, respectively.

Why Do I Have Different FICO Scores?

As mentioned above, FICO^® creates different FICO^® Score models to work with each credit bureau's credit reports. And, FICO^® periodically releases new FICO^® Score models to incorporate changing consumer behavior, new regulations and technological advances. Because not all lenders and businesses use the same scoring models or versions, you may have several—or even hundreds—of credit scores.

For example, the FICO^® 10 T score is a variation of the FICO^® Score 10, the latest version of the company's base scoring model. It's the first FICO^® Score to consider trended data—a look at how you've managed accounts over the past 24 months. But lenders may use older models, such as the FICO^® Score 8 or FICO^® Score 9—or even older versions—when determining whether to approve a loan or credit card application. Or they may choose to use one of VantageScore's credit scoring models, such as its most recent 3.0 and 4.0 versions.

FICO^®'s base scores aren't intended for a specific type of lender or loan. But FICO^® also creates industry-specific scores for auto lenders and credit card issuers. These models build on top of a base model to give creditors in that industry a more tailored score, which ranges from 250 to 900.

What Is My Real Credit Score?

Companies can choose which score to purchase and use when reviewing applications and managing customers' accounts, which is one reason there's competition in the credit scoring world. With this in mind, there isn't a single, "real" credit score.

For example, when you're shopping for an auto loan, you may try to get offers from several lenders. One lender might use a FICO^® Score 8, another a FICO^® Auto Score 2, and a third a VantageScore 4.0. Your scores may vary, but each is very real in the sense that the lender is using it to determine if you qualify for a loan and the rates and terms to offer you.

Generally, you won't know which of your three credit reports or which credit score a lender will use. However, because credit scores all rely on the same underlying data, building positive credit can help you get good credit scores regardless of the model. Conversely, negative items, such as late payments or a bankruptcy, could hurt all of your credit scores.

Check Your FICO^® Score for Free

While there are newer FICO^® Score versions available, FICO^® Score 8 remains one of the most widely used versions. Partially, this is because lenders need to invest time and money into switching to a new scoring model. You can check your FICO^® Score 8 based on your Experian credit report for free online. You'll also learn about which factors are most helping or hurting your scores and can track your score over time.

How Good Is Your Credit Score?

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580 credit score 581 credit score 582 credit score 583 credit score 584 credit score 585 credit score 586 credit score 587 credit score 588 credit score 589 credit score 590 credit score 591 credit score 592 credit score 593 credit score 594 credit score 595 credit score 596 credit score 597 credit score 598 credit score 599 credit score 600 credit score 601 credit score 602 credit score 603 credit score 604 credit score 605 credit score 606 credit score 607 credit score 608 credit score 609 credit score 610 credit score 611 credit score 612 credit score 613 credit score 614 credit score 615 credit score 616 credit score 617 credit score 618 credit score 619 credit score 620 credit score 621 credit score 622 credit score 623 credit score 624 credit score 625 credit score 626 credit score 627 credit score 628 credit score 629 credit score 630 credit score 631 credit score 632 credit score 633 credit score 634 credit score 635 credit score 636 credit score 637 credit score 638 credit score 639 credit score 640 credit score 641 credit score 642 credit score 643 credit score 644 credit score 645 credit score 646 credit score 647 credit score 648 credit score 649 credit score 650 credit score 651 credit score 652 credit score 653 credit score 654 credit score 655 credit score 656 credit score 657 credit score 658 credit score 659 credit score 660 credit score 661 credit score 662 credit score 663 credit score 664 credit score 665 credit score 666 credit score 667 credit score 668 credit score 669 credit score

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What Is the Difference Between FICO^® Score and Credit Score?

In this article:

Is a FICO^® Score the Same as a Credit Score?

Why Do I Have Different FICO Scores?

What Is My Real Credit Score?

Check Your FICO^® Score for Free

What Makes a Good Credit Score?

How Good Is Your Credit Score?

Resources

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Credit advice

Most popular

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Improving credit

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In this article:

Is a FICO® Score the Same as a Credit Score?

Why Do I Have Different FICO Scores?

What Is My Real Credit Score?

Check Your FICO® Score for Free

What Makes a Good Credit Score?

How Good Is Your Credit Score?

Resources

Latest Research

Latest Reviews

Is a FICO^® Score the Same as a Credit Score?

Check Your FICO^® Score for Free