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  1. #1

    Default beacon score

    Where and what is your beacon score? Heard an ad for car loan while in FL that beacon score has to be at least 580 for a loan.

  2. #2

    Default Re: beacon score

    When they say "at least a 580 beacon score" that means that they pull from Equifax, and it is not FICO based. This score ranges from 300-850 just like FICO except this number is pulled directly from Equifax. A 580 beacon score would be around a 620 FICO.

  3. #3

    Default Re: beacon score

    OK, thanks

  4. #4

    Default Re: beacon score

    I did some research on this topic, and yes, its not a "FICO" formulated score, rather Equifax version of their own scoring model based upon information in your credit file with them, however, the "Beacon" score has been replaced with a newer model called a Pinnacle score. Although most financial institutions dont implement this model, some do such as Alliant Credit Union. Most lenders, banks, and credit unions still use a FICO 5.0 based version to decision most if not all of thier credit applications.

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