Hi, I just went to myFICO.com and paid $12.95 for their ScorePower report which gives you your FICO score. I noticed on the report that it says my BEACON FICO score is 755. I thought BEACON scores were different from FICO scores? Are they now one and the same? Also, I originally got this report on May 30 of this year and my score was 747- I gained 8 points in two months by just lowering the balances to $0 on two of my five credit/store cards. And they even have the credit limits on 2 cards approximately a total of $5000 lower than they really are so my debt to credit ratio is not really 3% but really about 1.5%. I have contacted Equifax (who provide this report) to have these limits changed on my report and am hoping that this might even bump my score up another few points before I apply for a mortgage later in the month. SO my question basically is this- is this the FICO score that the mortgage lender will come up with or at least a close approximation, or are these scores at myFICO.com BEACON scores and not relevant or used by most lenders. Any info would be much appreciated. Thanks!
This post by Erik might explain things a bit...Future FAQ post (when I get a chance to edit it again). -Peace, Dave
Equifax showed as Beacon 96 on my tri-merge Experian as Fair Issac Risk Model VR 2 Score TU as Emoirica 98 score
