Chase uses VantageScore 3.0 for its free Chase Credit Journey service but often relies on FICO scores for actual credit card approval decisions, though they may use different versions of FICO from different credit bureaus (Experian, Equifax, TransUnion). So, while you see VantageScore in Credit Journey, lenders like Chase often use FICO for lending, meaning your scores might differ.
You have many different credit scores, including multiple versions from both FICO and VantageScore. Both models are widely used. Many of the nation's top banks, lenders and credit card issuers use VantageScore models. FICO scores are also widely used by lenders.
Chase primarily uses Experian for credit applications but may pull from Equifax or TransUnion, depending on location or card type, and reports activity to all three major bureaus (Experian, Equifax, TransUnion). Their free credit monitoring tool, Chase Credit Journey, specifically uses Experian data to provide scores.
We find, on average, VantageScore 4.0 scores are higher than Classic FICO scores, especially for refinance loans and for investor properties and second homes. Both credit scoring models effectively distinguish between high-risk and low-risk borrowers.
Your FICO Score is important, but it's not the only score that's used widely by banks, lenders and credit card issuers. When you enroll in Chase Credit Journey ®, you can get access to your free VantageScore 3.0 and credit report. This is an easy, fast and accurate way of checking your credit score without hurting it.
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 may be scenarios where you have a lower VantageScore than FICO score and vice versa. Factors that are weighed differently between the two scoring models include payment history, credit history and others.
Because FICO and VantageScore weigh credit factors differently, a consumer's scores can vary between the two models. This could potentially mean that you qualify for credit with one score but not the other.
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.
The Chase 2/30 Rule is an unofficial guideline stating you can be approved for a maximum of two new Chase credit cards within a 30-day period, or risk automatic denial, though this isn't a hard-and-fast policy and depends on your overall profile. It's a key rule for credit card enthusiasts, alongside the famous Chase 5/24 rule (not being approved for more than five new cards from any bank in 24 months). Following these guidelines helps maximize your chances of approval for Chase's popular rewards cards.
Amex and Chase mainly use Experian, while other issuers use Equifax, TransUnion, or all three. You can check your credit report for free to stay on top of your score across all three bureaus.
Apple Card uses FICO Score 9. FICO Score 9 ranges from 300 to 850, with scores above 660 considered favorable for credit approval.
VantageScore's credit scores aren't necessarily higher than FICO's scores. VantageScore and FICO scores may differ, because they use different scoring models. Scores are also dependent on the information used to calculate them and when they're calculated.
While FICO score and VantageScore differ in how they weigh the factors discussed above, it's important to note that one model is not necessarily more accurate than the other. Rather, these scores can be used for different circumstances.
Chase's 5/24 rule is an unofficial policy preventing approval for most of their credit cards if you've opened five or more new personal credit card accounts from any bank in the last 24 months, including cards you're an authorized user on. It counts new cards from other issuers (like Amex, Citi, Capital One) and sometimes Chase itself, but often excludes business cards not reported to personal credit reports. You must be under 5/24 to get approved, meaning you can only have opened four cards in the prior 24 months.
Lenders use both FICO and VantageScore, with FICO traditionally dominating, especially in mortgages, but VantageScore gaining significant ground, particularly with recent approvals for use in loans backed by Fannie Mae and Freddie Mac (GSEs). Many lenders use different scores for different products, and some even have their own proprietary models, so it's best to ask your loan officer which score they'll check.
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.
Versions 8 and 9 of FICO scores are similar, but FICO Score 9 is generally considered the more forgiving of the two for a few reasons: With FICO 9, third-party collections no longer hurt your credit score once those debts are paid off. FICO 9 treats medical collections differently than other types of debt.
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.
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.