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Last Verified: March 22, 2023

For years, FICO scores have been the dominant credit score used by lenders to evaluate creditworthiness. However, the introduction of Vantage scores, also known as “FAKO” scores, created some confusion among consumers who were unsure about their validity and whether they were worth paying attention to.

Initially, Vantage scores were seen as less reliable and less commonly used by lenders. They were often referred to as “FAKO” scores because they were not considered to be as accurate as FICO scores. Vantage scores were often used for educational purposes, giving consumers an idea of how their credit score might look if a lender were to use a Vantage score instead of a FICO score.

However, in recent years, Vantage scores have gained more acceptance among lenders. The three major credit reporting agencies (Equifax, Experian, and TransUnion) all provide Vantage scores alongside FICO scores, and some lenders are now using Vantage scores as part of their credit evaluation process.

Vantage scores differ from FICO scores in that they use a slightly different algorithm to calculate creditworthiness.

While FICO scores remain the most widely used credit score, the increasing use of Vantage scores means that consumers should pay attention to both types of scores and monitor their credit reports regularly. It is also important to note that not all lenders use the same credit scoring model, so it is possible to have different scores from different sources.

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