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myFico vs Equifax

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Mysta
Established Member

Re: myFico vs Equifax

I do not think so, it was a credit score but with a new name. 

 

http://answers.yahoo.com/question/index?qid=20100120120337AAq7yj8 

Message 11 of 14
Anonymous
Not applicable

Re: myFico vs Equifax

There are many scores out there, and the only score you should care about is your FICO score, but there are three different FICO scores.  One is based off of the information that is contained in your credit file that is kept by Equifax.  That FICO score is called your BEACON score, so you do want to know your BEACON score.

 

 Keep in mind that Equifax also has a credit score that is based off the information in your credit file at Equifax that isn’t a FICO score, so make sure that you are in fact getting a FICO-based credit score when you get your score from now on.
Message 12 of 14
Mysta
Established Member

Re: myFico vs Equifax

Just to kinda update, it would appear that my assumption was correct that the one I got from Equifax is probably a newer type of score. I was able to get a loan on a car through a special financing situation with Lexus for 4.49% APR with no cosigner(Keep in mind, i only have 2 credit cards atm, 2100 total in CL. for an average of 1.4 years.) So that should be a nice boost to my credit provided I keep up with payments, with not as much APR as you'd normally get on first car loan. YeySmiley Happy
Message 13 of 14
Jazzzy
Valued Contributor

Re: myFico vs Equifax

Congratulations on your new car loan. There are a lot of "scores" sold out there that aren't FICO scores. The CBs and others like to sell them, and some people don't mind buying them.

 

I'd rather stick with FICO since most of the lenders do.

 

You're right that this should help build your credit. Good job.

Message 14 of 14
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