FICO vs. Vantage Scores?

[peme6040]

Today I went to annualcreditreport.com and realized I was too soon on getting my free credit report.  So I went to transunion.com and signed up for $1 Credit report/score.  When it opened up, it said that my score was 776 to my total shock-higher than I thought considering when my credit was pulled by my bank on 3/31/14 it said my transunion score was 676.  Reading the smaller print, I see that today's score is a Vantage Score whereas my banks pull was a FICO score.  Can someone explain the difference to me? And is there a way to translate my Vantage Score into what my FICO score would be?  Thank you!

[user5387]

This article is informative:

   http://en.wikipedia.org/wiki/VantageScore

At one time, the Vantage score had a different range than FICO scores.

I don't know if that's true for the score you got.

[cashnocredit]

Vantage score range now mirrors FICO's range but don't expect them to be close for any specific person. The new VantageScore 3.0 uses radically different algorithms than FICO scores or even older FAKOs. Some of the bigger differences are that VantageScore 3.0 factors into your score whether your CCs are secured or not, size of the CLs., payment's made, not just monthly balance, and ignores all paid collections.

That's a lot of differences so there really is no way to convert from one score to another. VantageScore claims to be more predictive and appears to be the first score that uses payments made each month. This identifies revolvers v transactors as well as the desireable and lower risk segment of revolvers that pay materially over the minimum.  FICO's banking blog had a good article about this earlier.  I've heard FICO inc will be coming out with a FICO score that uses this new data later this year.