Posts tagged "tips"

top credit score companies

What is the difference between the Beacon score and Fico score?

I know that FICO is an independent company that issues the summary score to the three major Credit bureaus that ranges some where between 400′s to 850
what is the top/bottom beacon score ?
I uinderstand all the differences between the 3 bureaus I understand what can effect your credit but I was not sure if Beacon was it’s own company like FICO or if it was a different name for the same thing.

FICO scores from 300 to 850 with anything calculating to below a 300 defaulting to a 0.

Equifax shows a beacon score which is the same as FICO.

Scores are based on the following factors;

1. Payment history 35%
2. Time in bureau 15%
3. Types of credit 10%
4. New credit 10%
5. Debt to credit ratio 30%