Under the old model, most mortgage lenders use FICO credit scores because Fannie Mae and Freddie Mac require it. With this, the three major credit bureaus—TransUnion, Equifax, and Experian — your FICO score came from:

• Payment history—35% recent history weighted a bit more heavily than the distant past.
• Debt utilization—30% amount of debt outstanding as a percentage of the total.
• Credit history—15% how long the borrower has been a ‘good’ credit user.
• Recent credit searches—10%
• Types of credit—10% i.e. ‘mix’

VantageScore is the main source for approving credit cards.
VantageScore uses trended data.

• PLUS: Trended data gives a higher score when paying down debt vs minimum payment each month &/or debt increasing.
• MINUS:  Traditional high score borrowers often carry several cards with high limits, resulting in lower scores under the new system, because of potential to run up credit card debt quickly.