no
NO
Yes. It' very good.
A Beacon score of 5 is impossible, the score ranges between 300 and 850. I'll assume you meant 500, this is considered to be 'very bad'.
A beacon score is just the name given to the equifax branded FICO score. So your FICO score and beacon score will be the same if your FICO score is pulled using your equifax credit report.
no
NO
Yes. It' very good.
A Beacon score of 5 is impossible, the score ranges between 300 and 850. I'll assume you meant 500, this is considered to be 'very bad'.
yes.
850 is the highest beacon score possible.
A beacon score is just the name given to the equifax branded FICO score. So your FICO score and beacon score will be the same if your FICO score is pulled using your equifax credit report.
Yes your almost there, the coveted 700 Club
The ABOVE average score is around 750. Once a person achieves a score of around 725 or more they are going to get the best interest rates available. Most banks guidelines for determining your interest rates cutoff around 725, meaning that a person with a score of 725 will qualify for the same rate as someone with a perfect score of 850. So if your worried about getting that 850 score and your a 750 don't worry either way you are considered great to any bank. The average score today is 675. With the economy bad and the credit crunch happening if you are just average you may have a harder time obtaining a loan.
The ABOVE average score is around 750. Once a person achieves a score of around 725 or more they are going to get the best interest rates available. Most banks guidelines for determining your interest rates cutoff around 725, meaning that a person with a score of 725 will qualify for the same rate as someone with a perfect score of 850. So if your worried about getting that 850 score and your a 750 don't worry either way you are considered great to any bank. The average score today is 675. With the economy bad and the credit crunch happening if you are just average you may have a harder time obtaining a loan.
Your beacon score is basically an equifax branded FICO score, there is no difference except that a beacon score uses data found in your equifax credit report only. So if data furnishers do not report to equifax it will not appear on their credit report and thus this information will not be reflected in your beacon score.
The Beacon version 5.0 is the formula which was created by FICO (Fair Isaac Company) and is used by Equifax to calculate a credit score. Considering that the average FICO score in the US is 680, your score would fall just below average.