The Beacon Score, FICO Score, Empirica Score are credit scoring systems used by the big 3 credit bureaus.
Empirica Score - Trans Union
Beacon Score - Equifax
Fair Issac or FICO - Experian
"Credit" scores can be different because each bureau may have different data from different creditors, but the scores all measure the same and should be close.
Scoring is not a measure of a borrower's income, assets, or bank account - it is based solely on the data within the credit file.
The Beacon / Fico / Empirica score is based on ALL the credit related data in the credit report - not just negative data. The type of information looked at when compiling a score includes but is not limited to:
Payment History
Public record and collection items
Severity, recentness and frequency of delinquencies noted in trade line section
Outstanding debt
Number of balances recently reported
Average balance across all trades
Relationship between total balances and total credit limits on revolving trade lines
Credit History
Age of oldest trade line
Inquiries and new account openings
Number of inquiries and new account openings in the last year
Amount of time since most recent inquiry
Types of credit in use
Number of trade lines reported for each type:
Bankcard
Travel and Entertainment cards
Department store cards
Personal Finance company references
Other
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The Beacon Score, FICO Score, Empirica Score are credit scoring systems used by the big 3 credit bureaus.
Empirica Score - Trans Union Beacon Score - Equifax Fair Issac or FICO - Experian
"Credit" scores can be different because each bureau may have different data from different creditors, but the scores all measure the same and should be close.
Scoring is not a measure of a borrower's income, assets, or bank account - it is based solely on the data within the credit file.
The Beacon / Fico / Empirica score is based on ALL the credit related data in the credit report - not just negative data. The type of information looked at when compiling a score includes but is not limited to:
Payment History Public record and collection items Severity, recentness and frequency of delinquencies noted in trade line section
Outstanding debt Number of balances recently reported Average balance across all trades Relationship between total balances and total credit limits on revolving trade lines
Credit History Age of oldest trade line
Inquiries and new account openings Number of inquiries and new account openings in the last year Amount of time since most recent inquiry
Types of credit in use Number of trade lines reported for each type: Bankcard Travel and Entertainment cards Department store cards Personal Finance company references Other