Question:

How is Beacon credit score rating different from FICO?

Answer:

Beacon is simply the FICO score at Equifax. They call it Beacon, TransUnion call theirs Empirica, and Experian call it Experian/FICO.

Beacon credit score rating, as all other two, are all FICO scores. They bear different names as the bureaus use different pools of data to extract scores from, so their scores vary slightly.

If you are applying for a mortgage, remember to request credit reports from all three bureaus and try to request removing erroneous items. Doing this will improve your overall credit score and will get you better chances to acquire a decent mortgage.

Beacon credit score rating will not be hurt if you request a credit report - this is one of the most common credit score myths.

What in fact can harm your Beacon score is closing old accounts as your credit history will shrink.

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