Credit Rating Score Scale

 

Fico credit score rating was developed by Fair Isaac in the 50’s, and is currently dominating the market with over than 90% of the lending companies using it. The Fico credit score has many variations, but they all run on the same scale, from 300 to 850.

Vantage score is a new credit rating system, introduced on 2006 by the 3 major credit bureaus – Equifax, Experian & TransUnion. It is supposed to better predict the risk involved in lending money and benefit with consumers that have a “thin” credit file. To the time of writing it still hasn’t caught up with creditors. The vantage score runs on a 501-990 scale.

Here is a graphic illustration of Fico & Vantage Credit Rating Score Scale:

As illustrated, if your credit score is 750 it means nothing unless you know what credit rating score scale is being used. If it’s 750 Fico score then your credit is excellent and you can expect to get the best terms. However, if you have a 750 Vantage score then your credit is mediocre at best.

Other Credit Rating Systems
Each of the 3 major credit bureaus has its own version of Fico score. You’ve may recognize a few by their name: Beacon, Pinnacle, Score power & Precision are just an example.

Most of them run on the same credit scale that Fico runs on (300-850), but others have their own scale. For more information about the scale of these scores and the differences between them please see Credit Score Range.