Other Credit Scoring Models

VantageScore

In 2006, to try to win business from FICO, the three major credit-reporting agencies introduced VantageScore, which differs from FICO in several ways. According to court documents filed in theFICO v. VantageScore federal lawsuit the VantageScore market share was less than 6% in 2006. The VantageScore score methodology initially produced a score range from 501–990, but VantageScore 3.0 adopted the score range of 300-850 in 2013. Consumers can get free VantageScores from free credit report websites.

CE Score

CE Score is published by CE Analytics and licensed to sites like Community Empower and iQualifier.com. This score is distributed to 6,500 lenders through the Credit Plus network but is free to consumers. It has a range of 350 to 850.

Other credit scores

The non-FICO scores are called FAKO scores by some. Experian has a credit score for educational use only (Plus Score) between 330 and 830, and Experian Scorex PLUS score is between 300 and 900.Equifax has the Equifax Credit Score between 280 and 850. Some lenders use an Application Score between 100 and 990, and Credit Optics Score by ID Analytics Inc. between 1 and 999. TransUnion’s TransRisk New Account Score in the website Credit Karma is between 300 and 850, and Experian National Equivalency Score in Credit Sesame and Credit.com ranges from 360 to 840. Several websites (TransUnion, Equifax, Credit Karma, Credit Sesame etc.) offer different credit scores to consumers but are not used by lenders. ChexSystems Consumer Score ranges from 100 to 899, PRBC credit score from 100 to 850, and LexisNexis Attract Insurance Score from under 500 to 997.

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