Banks look at both FICO and VantageScore, but traditionally FICO has been the industry standard, used by about 90% of top lenders, while VantageScore (especially newer versions like 4.0) is gaining traction, with some large banks using it and the Federal Housing Finance Agency (FHFA) now allowing it for mortgages. Lenders often use different models for different loan types or even have choices, so it's best to monitor both for a complete view of your credit health.
Lenders will have the choice to report credit scores from either Classic FICO or VantageScore 4.0. For the time being, the Enterprises will not accept scores from multiple models on a given loan.
A recent FICO study claims that FICO 10T outpaces VantageScore 4.0 when it comes to assessing creditworthiness.
This is likely the main culprit. Usually when you see such a large discrepancy between VantageScore and FICO, it's due to revolving utilization. VantageScore tends to be highly sensitive to utilization whereas FICO can see a decent CC usage before seeing significant score changes.
Most lenders primarily use FICO Scores, especially for credit cards, auto loans, and mortgages. However, VantageScore is widely used for credit monitoring tools and is gaining adoption, including approval for certain mortgage evaluations.
Chase Credit Journey: VantageScore vs FICO
Chase Credit Journey uses VantageScore 3.0, which is a credit scoring model developed by the three major credit bureaus: Experian, Equifax ® and TransUnion ®. VantageScore 3.0 provides a snapshot of a consumer's credit health and behavior.
There is no official method of converting a Vantage Score to a FICO Score. Each scoring model uses different criteria and methods of pulling credit reports data; it's nearly impossible to convert. However, keeping both scores in mind can give you a much more well-rounded understanding of your credit reports health.
"By offering VantageScore 4.0 credit scores to all Equifax customers who purchase FICO scores through the end of 2026, we are making VantageScore more easily accessible for lenders of all types to evaluate. More data drives better decisions and VantageScore 4.0 provides a fuller view of consumers' financial profiles.
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.
We're updating the credit scoring version you see on CreditWise. Once you're updated, you'll see your FICO® Score 8 instead of your VantageScore® 3.0 credit score.
VantageScore and FICO score are widely used credit scoring models. Experian is one of the three main credit bureaus in the U.S. and uses both credit scoring models.
VantageScore weighs payment history more heavily than FICO. For example, payment history composes 40% of Vantagescore 3.0 while it makes up only 35% of FICO Score 8. Depending on your credit behavior and how timely you make your payments, your scores could vary.
The length of time it will take to improve your credit scores depends on your unique financial situation, but you may see a change as soon as 30 to 45 days after you have taken steps to positively impact your credit reports.
What does this mean for you? If you're new to credit or haven't used your credit accounts in a while, you may not have a FICO credit score, but you may have a VantageScore credit score.
FICO Score 8 is the most popular among lenders. When lenders check your FICO credit score, whether based on credit report data from Equifax®, Experian®, or TransUnion®, they're likely using the FICO 8 scoring model range between 300-850. A FICO score of at least 700 is considered a good score.
To get a credit card with a $100k limit, you generally need excellent credit, high income, and often apply for premium travel cards like the Chase Sapphire Reserve or Amex Platinum, or business cards like Brex/Ramp, as traditional cards rarely start that high, though some premium options like Chase Sapphire Preferred can reach it for top-tier users. No preset spending limit (NPSL) cards, like some American Express products, offer flexible limits that can exceed $100k based on your financial profile, making them another path to high spending power.
The 3-7-3 Rule in mortgages isn't a loan type but a federal timeline from the TILA-RESPA Integrated Disclosure (TRID) rule, ensuring borrower protection by mandating disclosures within 3 business days of application, a 7-business-day wait between the initial Loan Estimate and closing, and another 3-day wait if significant changes (like APR) occur, giving borrowers time to review costs before committing to a loan.
It's partly true: most negative items like late payments and collections are removed from your credit report after about seven years, but the underlying debt often still exists, and bankruptcies (Chapter 7) last 10 years, so your credit isn't entirely "clear" but mostly refreshed from old negatives. The 7-year clock starts from the date of the original delinquency, not when you paid it off or sent to collections, and the debt itself can still be pursued by collectors.