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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.
What else can I help you with?
Is a beacon score of five good with a credit score of 675?
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.
Is your beacon score and FICA score the same?
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.
What is the difference between your credit score and your beacon score?
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.
What is the highest beacon score possible?
The highest possible Beacon Score is 900. This indicates excellent creditworthiness and a strong likelihood of receiving favorable terms on loans and credit.
Beacon score zero what does that mean?
This means that you have no credit history according to equifax and thus they were not able to produce a beacon score.
What is a excellent beacon score?
850+
Is 500 a good beacon score?
no
What is a Vanguard credit score?
Just curious what the difference is between a Vanguard score and a Beacon score?? Which is the most credible and respected in the credit world and which one should your average consumer be most concerned about?
What is the purpose of the beacon score?
The beacon score is a very important equation in your credit score. It is a number generated by the Equifax Credit Bureau that determines ones credit worthiness.
Is a 5 beacon score good or bad?
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'.
What is a Beacon 5.0 score?
beacon 5.0 is a system equifax uses to calculate your credit in numerical form which produces a number known as a credit score.
Is a beacon score different from a fico score?
Beacon is the trade name that Equifax uses to describe their version of the FICO score it is the same scoring model though for more information see thecreditguy.tv
