Co-signing is generally not a good idea. However, that is not your question! If the person pays on time, your score should not be affected. However, if you have a high to debt ratio, including this loan, it may make it difficult and/or more expensive for you to obtain a loan should you need one.
Yes you can, if approved it will show positive on both reports.
can someone answer it
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.
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.
Because you have taken on the risk of a deadbeat.
This means that you have no credit history according to equifax and thus they were not able to produce a 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.
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'.
beacon 5.0 is a system equifax uses to calculate your credit in numerical form which produces a number known as a credit 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
Your question does not make any sense, please rephrase it.
Determining a beacon score is difficult, they use a number of factors: Credit history length Payment history Credit utilization ratio Types of credit used
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.
Yes. It' very good.
There is not a strict set of requirements for cosigning. You will need to be over 18 and the lender will need to believe you are a good credit risk. This is based on your credit score. You should be concerned with the obligations cosigning a car loan will create for you. See the Related Link for "Experian: Advice on Cosigning a Loan" for info on this.
Yes you can, just not with regular credit
Yes your almost there, the coveted 700 Club
No, such activity only lowers your credit rating. It goes against your total indebtedness. Plus, if they default it can kill your credit rating and take years to remedy. Mark
Pay your bills. I don't know that a credit inquiry will lower your credit score. What does affect your credit score is not paying. Even if you pay late, it shows willingness to pay. But as far as someone checking your credit, I don't think that will actually affect your credit score. Pay your bills. I don't know that a credit inquiry will lower your credit score. What does affect your credit score is not paying. Even if you pay late, it shows willingness to pay. But as far as someone checking your credit, I don't think that will actually affect your credit score.