FICO vs. FAKO (Vantage) Credit Scores – What You Must Know

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woman fixing her credit score

If you’re even partially interested in your credit score and you live anywhere on social media, you’ve likely heard a lot of debate between FICO vs. FAKO credit scores. While these terms correspond to your credit score, there is more to know about them because they are vastly different.

Here are the top differences between FICO and FAKO and advice on which you should use.

What is FICO?

FICO is a brand of credit score from a company originally known as the Fair Isaac Corporation, but today is known as FICO. It’s like choosing a Louis Vuitton bag over a bag from the thrift store, the Louie bag is much more popular. That’s your FICO score, because it’s the most popular with over 90% of lenders using this model to make a lending decisions.

Your FICO score is a three-digit number derived from your credit history. It’s a summary of your credit and is made up of the following:

  • 35% payment history

  • 30% outstanding credit

  • 15% length of credit history

  • 10% credit mix

  • 10% new credit

It’s a fancy algorithm that uses information from your credit report to compute your credit score and provides it to lenders.

How do FICO Scores Work?

FICO scores are available from all three credit bureaus – TransUnion, Equifax, and Experian. The number ranges from 300 – 850, with the following breakdown:

  • 300 – 579 Poor

  • 580 – 669 – Fair

  • 670 – 739 Good

  • 740 – 799 Very Good

  • 800 – 850 Excellent

There are several FICO credit scoring models, but they work about the same. The newer models may weigh certain debts or credit issues differently, but the premise is the same. Payment history and credit usage are always top concerns when calculating your credit score.





Where can you get your FICO Score?

There are many places to get a credit score, but when shopping around, you must make sure it’s your FICO score and not your FAKO (Vantage) score. Two companies that I’ve used, personally, is myScoreIQ (I’m still using this one today) and myFICO.com.

myScoreIQ is a paid monthly subscription that you can cancel at anytime. Your subscription includes the following:

  • 3 bureau credit reports and FICO scores every 30 days

  • Credit monitoring and alerts

  • FICO score tracker

  • $1m in identity theft protection

  • FICO score simulator


myFICO.com is also a paid monthly subscription that you can cancel at anytime. Your subscription includes the following:

  • 1 – 3 credit scores depending on the chosen plan

  • Detailed credit reports

  • Updated credit scores and reports every month or every 3 months depending on the chosen plan

  • FICO credit score monitoring

  • Various credit score tools and analyses

What is FAKO?

FAKO is a term that people have been using for some years to distinguish the difference between FICO scores and Vantage scores. FAKO (Vantage) scores aren’t ‘fake,’ they are score that are used by 10% of lenders in the US. Since some lenders use it, they aren’t useless, but if you’re going to get a car or a mortgage, chances are the lender isn’t looking at your Vantage score which is why they call them FAKO. 

I consider them educational and a good tool if your trying to monitor your credit for free. FAKO (Vantage) scores don’t use the same exact credit model as FICO, but what impacts your FICO scores mostly affects your Vantage scores too; here’s how they’re weighted:

  • 40% payment history

  • 34% amounts owed (credit usage)

  • 21% length of credit history

  • 5% recent credit applications



Uses for FAKO (Vantage) Scores

If FAKO (Vantage) scores aren’t what most lenders see, why should you care about them?

If you’re about to apply for new financing or try to get new insurance, your FAKO (Vantage) score can educate you and typically for free.

If you pull your FAKO (Vantage) scores and find they are well below where you thought you were, you can take steps to improve your credit. Even if your FAKO (Vantage) score doesn’t come with a full credit report, everyone gets free credit report access here.

For now, credit report access is free weekly, so you can check your reports often if you’ve made changes and want to see how they affected your credit scores. This is the best use of FAKO (Vantage) scores because you can improve your credit before applying for loans to increase your chances of approval.



Where can you get your FAKO (Vantage) Score?

There are many companies you can get a FAKO (Vantage) score from, and chances are more will enter the industry.

For now, the most popular sites to get FAKO (Vantage) scores include:

  • Credit Sesame – Offers a free TransUnion credit score monthly plus provides tips to improve your credit and your chances of getting approved for financing

  • Credit Karma – Offers free TransUnion and Equifax credit scores monthly. They also provide tips to help you build better credit.

  • IdentityIQ - For a subscription you can get your credit scores and credit reports from all 3 major credit bureaus

As you can see, the free FAKO (Vantage) services don’t provide all three credit scores, and they are likely based on a different credit scoring model.



3 Reasons to Pull your FICO Scores vs. FAKO (Vantage) Scores

Remember FAKO (Vantage) scores aren’t bad nor are they wrong, but there are many reasons you should stick to your FICO scores over FAKO (Vantage) scores.

Lenders Use Them

The FICO score you pull may not be the exact score a lender pulls, but it will likely be closer than a FAKO (Vantage) score. This is because there can be quite a difference between FAKO (Vantage) and FICO scores, but not as much difference between different FICO scoring models.

If you’re serious about applying for major credit soon, like a house or car, consider pulling your FICO score to see where you stand.

You Can Improve Your Credit

If your FICO scores aren’t as high as you hoped, you can fix them before applying for a mortgage. Knowing what’s affecting your FICO score will help you improve your score the most, giving you a higher chance of approval.

You’ll See What Lenders See

Lenders look closely at your credit before deciding on your loan application. If you pull your FICO scores, you’ll see what they see. The algorithm might be slightly different, but you’ll have a better idea of the information they use to determine if you qualify for the loan.



Final Thoughts

If you’re ready to apply for new credit, your best bet is to pull your FICO scores. Most FAKO (Vantage) scores may be free, but they won’t give you an accurate picture of what most lenders will see when they pull your credit score, if you’re focusing on your Vantage score, this can make a huge difference in your ability to secure financing.

If you only pull FAKO (Vantage) scores, use them for educational and monitoring purposes only. In other words, use the information to learn what you should fix about your credit history so that you can have a higher FICO score.

In the end, lenders use FICO scores so when comparing FICO vs. FAKO (Vantage), always choose FICO for the closest results.