Beacon Score????

[Anonymous]

Is a Beacon Score the same as a FICO score? I sure hope so....started out in December 01 with a Fico lender pull of 597.....and last month got it to 623......lender pulled today.....and Beacon Score is 667........Moving in the right direction anyway!!!!!!! Now I need to get my ultilization in order.

[llecs]

Beacon is the FICO score for EQ. Specifically, this site and most lenders use Beacon 5.0 per scoring.

[Anonymous]

So then I am guessing thats a pretty good jump?

[llecs]

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@Anonymous wrote:

So then I am guessing thats a pretty good jump?

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If they were using the same Beacon version (and virtually all do), then it's a pretty good jump. Congrats!

[700orbust]

My local lender pulled my EQ last week, and it read "Beacon 9.0: 738". I haven't found anything on Beacon 9.0...anybody have ideas? Obviously I like that scoring model more than Beacon 5.0 (almost 50 points better)

[Lel]

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@700orbust wrote:
My local lender pulled my EQ last week, and it read "Beacon 9.0: 738". I haven't found anything on Beacon 9.0...anybody have ideas? Obviously I like that scoring model more than Beacon 5.0 (almost 50 points better)

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Beacon 9 is the latest version of Equifax's FICO score that was rolled out about 2 years ago.  As far as I know, it hasn't been adopted by very many creditors yet, and the large creditors are still using the 5.0 model.

Here's a press release from 2009 that describes it.  There is mention about how AU accounts are going to be treated differently, but only in vague terms.

http://www.fico.com/en/Company/News/Pages/06-09-2009.aspx

[llecs]

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@700orbust wrote:
My local lender pulled my EQ last week, and it read "Beacon 9.0: 738". I haven't found anything on Beacon 9.0...anybody have ideas? Obviously I like that scoring model more than Beacon 5.0 (almost 50 points better)

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You're the first poster I've seen post that their lender used a FICO08 model. 

[700orbust]

Bank is www.townebank.com

A conservative lender...with that said I've had a number of loans with them over the years, a current auto and business loan, and now a 90 day note, so the relationship has been beneficial.

[llecs]

BTW, are you open to mentioning the lender? Do you know the other versions they used for EX and TU?

[700orbust]

Beat ya to it

They only pull EQ, always have. My earlier loans only reported to EQ or EQ+EX. Nowadays they report to all 3.