I just heard a radio ad from a local car dealer. It went on and on about how they were offering 0% for any term up to 60 months. In the disclaimer at the end it said: "0% offer requires Beacon score of 800 or higher!!!" WTF? Does ANYONE here have an 800+?? I know it's been said that a lot of offers advertised no one really gets, but this just proves that theory. The scary thing is that the vast majority of people listening probably have no clue what a BEACON even is... Just thought I'd share....
I've heard plenty of people on this board talk about getting 0% with scores a lot lower than that. I don't know if that still applies though.
Although I would like to have 800+ scores...I wouldn't kill myself trying. Anything 720 and above should get you what you need. I said what you need, not what you want. But then again, my grandparents have had credit for over 50 years. They have never been late and only have a few credit cards they payoff every month along with a mortgage, a car loan and maybe a few co-signs that have always worked out for them. Yet they show scores that are hovering around 760-790. See what I mean? That's after 50 years! SnakeMan
Re: Re: 800+ BEACON Required??????!!!!!!!!! Yeah I know many, many other places give 0% with much lower scores. I almost drove off the road though when I heard "800 BEACON or HIGHER REQUIRED" this morning on this one!
Re: Re: 800+ BEACON Required??????!!!!!!!!! If it's the Allen I know, he's hardly a "boy." lol Sure didn't know he hit the triple 800 club though. GOOD FOR HIM! .
Re: Re: 800+ BEACON Required??????!!!!!!!!! According to fair isaac about 10% of the population scores above an 800. I don't think they come out of their house much to apply for credit though.
Re: Re: 800+ BEACON Required??????!!!!!!!!! Only about 10% of all applicants get 0% financing on auto loans.
Re: Re: Re: 800+ BEACON Required??????!!!!!!!!! TROUBLE IS---no truth in advertising is involved with their claims!!! 10% of the population is 800+ SURE THEY ARE I don't ever expect to be 800!!! AND I STILL AM "BADDIE" FREE 25+ YEARS!!!
Re: Re: Re: 800+ BEACON Required??????!!!!!!!!! I stongly suspect the CRA's inflate consumer's scores when coming up with their statistics. It's these statistics that lenders partly rely when comparing you to other consumer's. The less your score is in comparison to the average or whatever (top 10% of consumer's), the more justification for a higher rate. Seems potentially very crooked......
Re: Re: Re: Re: 800+ BEACON Required??????!!!!!!!!! I heard if you have an 800 you can walk on water!!!
Re: Re: Re: Re: 800+ BEACON Required??????!!!!!!!!! Does anyone here know anyone with consistent fico/beacon etc.. scores of over 775?
Re: Re: Re: Re: Re: 800+ BEACON Required??????!!!!!!!!! The guy in the office next to mine just bought a house and brought all of his closing paperwork in. His mid score (the one the mortgage company used) was an 831. Amazing.
Re: Re: Re: Re: Re: 800+ BEACON Required??????!!!!!!!!! so is his name Mr. Issac Fair. only he could get a mid score of 831. i once heard someone say of course you cant get near an 850 because then how would you improve. im waiting for the day that myfico cant recommend any action to improve my scores with the simulator.
Re: Re: Re: Re: Re: 800+ BEACON Required??????!!!!!!!!! my father in law is all 800+ accross the board, and I have a friend who is 800+ on one, with 790 being his middle... Kev
