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What's a Beacon score?


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<blockquote>Originally posted by Digilux

What is a Beacon score?...and how is it different from a FICO score if...Equifax uses both of them :(


A Beacon score it the EQ version of FICO. FICO is really an acronym for Fair Isaac Credit Organization, and each of the CRA's offer their own version of FICO. The classic FICO scores are known as:

BEACON® score at Equifax

EMPIRICA® score at TransUnion

Experian/Fair, Isaac Risk Model at Experian

However, Fair Isaac has come up with a new and supposedly improved scoring model called NextGen FICO and they are known as as:

PinnacleSM score at Equifax

PRECISIONSM score at TransUnion

Experian/Fair, Isaac Advanced Risk Score at Experian

Confused yet? ;)

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