What is the difference between FICO Score and VantageScore?

Both FICO Score and VantageScore are credit scoring models that use information in your credit report, but they were developed by different companies. FICO was developed by Fair Isaac Corporation and is used in over 90% of mortgage lending decisions. VantageScore was created as a collaboration between the three major bureaus (Equifax, Experian, TransUnion). Both range from 300 to 850. While the scores are similar in concept, they weigh factors differently — VantageScore can score consumers with just one month of credit history and one account, while FICO requires at least six months of history. The score you see on free monitoring services is often a VantageScore, not the FICO score lenders use.