Understanding your "Credit Score"; It's Complicated!

Credit Scoring models and your "Credit Score" is a commonly misunderstood concept by many consumers.  We hear the term credit score used very frequently, but what is it exactly?

A Credit Score, is a calculation that is based upon a variety of parameters, in order for Credit Bureaus and Lenders to make a calculated assessment about your "risk" as a consumer.  The most commonly used scoring method is called the "FICO" Score.  This score utilizes information, provided by the Credit Bureaus, to make a judgement about you, the consumer.  Therefore, your score is 100% linked to whatever information the Bureaus report about YOU.

With the FICO score, there are a variety of models.  Each model gives a different score, because parameters that create the score vary.  These parameters are proprietary to the Fair Isaac Company (FICO), but there is a general guideline that is understood to influence this score.  One version of FICO may lend more weight to credit age, while another score may give more penalty for late payment history, or recent credit inquiries.  

Various lenders choose which model best suits their needs and the type of lending they offer.  As you can see in the table below, based upon the latest information provided by the Fair Isaac Corporation, these are the models used for each bureau, in each lending circumstance.


 Equifax  TransUnion
Most Used
Fico 8
Fico 8 Fico 8
Auto Lending
Fico Auto 8
Fico Auto 8 Fico Auto 8
Fico Auto 2
Fico Auto 5 Fico Auto 4
Credit Card Decisions
Fico Bankcard Score 8
Fico Bankcard Score 8 Fico Bankcard Score 8
Fico 3
Fico Bankcard Score 5 Fico Bankcard Score 5
Mortgage Lending Fico Score 2 Fico Score 5 Fico Score 4


In addition to FICO, there are a number of other companies providing risk assessment calculations, available to various lending agencies.  The most known scoring models and their number ranges, are shown in the table below.

  • FICO Score: 300-850.
  • VantageScore 3.0: 300–850.
  • VantageScore (versions 1.0 and 2.0): 501–990.
  • PLUS Score: 330-830.
  • TransUnion (TransRisk New Account Score): 300-850.
  • Experian National Equivalency Score: 360-840.
  • Equifax: 280–850.
  • CreditXpert: 350-850


With so many different scores and so many different methods calculating your score, no one score is alike.  So, while there are similarities, understand that your score can vary in some cases, up to 100 points.

Here at Knight Financial Combinator, we work with your specific credit goals, in order to attempt to best align your recovery strategy so that the type of credit services you are seeking, are most successfully obtained.  Whether it's a credit card for household emergencies, a new car, or even a house, the pathway to credit recovery is a very complicated one.  That's why we are here to serve you.  

We have successfully taken clients from a very low 500's FICO score, to low 700's in as little as 4-6 months.  This has allowed them to purchase a new car, with an affordable interest rate.  Now they are building credit history and on their way to a better future.  One of our clients in particular went from a FICO 8 583 in late 2016, to a FICO 8 712 by April of 2017.  In May, she obtained her first car loan and bought a new Corvette!

Don't put your future on hold any longer, take control.  Sign up today!