So Which Is Better?

The bureaus say they built VantageScore from the ground up, using their own expertise and databases. When announcing the new scoring system, the bureaus were careful not to compare it directly to the FICO score. In fact, when asked, bureau spokespeople said the VantageScore formula hadn’t been tested head to head with the FICO.

If the VantageScore is, in fact, better at predicting who will default—which is, of course, the whole reason for credit scores—it might be true that some folks who’ve unfairly been labeled as deadbeats would have better access to credit if lenders adopt the VantageScore. But it might also be true that those who have been getting fairly good rates and terms would be scored more harshly by the VantageScore system and find it harder to get credit.