What's The Difference Between FICO and VantageScore?

The FICO credit scoring model is regularly used by mortgage professionals in the home buying process. To help better clarify what goes into a FICO credit score, we've provided a graph with information regarding the composition of a FICO scoring model. 

For most people who use Credit Karma or Smart Credit, you'll notice that your credit score is a VantageScore. In 2006, the VantageScore was created, and through multiple updates, it has become the leading competitor to FICO. The VantageScore uses different data sets and a unique scoring model to calculate the risk of a consumer. 

Although they seem similar, the VantageScore is dramatically different from the FICO credit scoring platform because it uses alternative scoring data for consumers who are credit invisible or who may have thin credit profiles. This means that accounts such as rental payment history, utility payment history, and more may be used on a VantageScore to help generate a credit score. Alternative scoring data is not used in traditional FICO scoring models.