A common misconception among consumers is the idea that they have a “credit score.” The truth is, consumers have three scores. A Beacon credit score is just one of those scores. It is the rating marketed by Equifax. Trans Union, and Experian market their scores under different names but the underlying process by which...
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A credit score is a general term used for a number assigned to you based on your credit report. A FICO score is one of these scoring models and is a brand of credit score. What that does for the consumers is sometimes increase confusion. There are some things to understand. The first thing...
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If you are wondering, what is a good credit score, the answer can be as simple as a single number or more complicated. There are many credit scoring systems used in the United States. The Fair Isaac credit score scale or the FICO score is commonly used, but there are others. Partly due to...
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You have probably heard the term ‘credit score’, but are you aware there are two major types? Here we will review the major differences between the FICO Beacon score and the Vantage score. Understanding how these work will improve your chances of building a solid history of paying on time. The typical FICO rating...
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Your credit score is quite important whenever you are thinking about purchasing a home or car. This is because this three digit number is what will help to determine just how much of an interest rate you are going to have to pay for the money that you are borrowing. A lot of lenders...
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Would you like to increase your beacon credit score as fast as possible? But before we jump into the details, it it important to note that BEACON and FICO can be used interchangeably. A FICO score is simply another name for credit score. But, more often than not, the FICO score is called the...
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