The first observation of the difference between either one of Click to Read these scoring models is to state the value of either one. What we know is that FICO Scores are used in over 90% of lending decisions. While on the other hand FAKO Scores are most commonly used for "educational purposes" and not lending decisions.
The three major Credit Reporting Agencies (CRAs) Experian, Equifax and TransUnion have to pay Fair Isaac to license their proprietary FICO scoring algorithm. So the three CRAs banded together to create the Vantage credit score for their own use and specifically intended to save themselves money. However FICO was and still is the gold standard for lending/credit decisions.
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