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No Fico is not the only credit score company. There are three major credit companies as well as Fico. Experian, Equifax and Trans-Union. Each one will give you a different credit score as well
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∙ 2011-07-14 13:36:41
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What is the difference between your credit score and your beacon score?
Your beacon score is basically an equifax branded FICO score, there is no difference except that a beacon score uses data found in your equifax credit report only. So if data furnishers do not report to equifax it will not appear on their credit report and thus this information will not be reflected in your beacon score.
Is a 658 credit score ranked as fair or good?
Before answering this question, you need to apply the proper credit score range, which for Fico is 300-850 and for VantageScore, is 501-990. We'll assume you're referring to Fico, as it's the most commonly used credit score out there. A 658 credit score would be defined as below-average credit, or perhaps fair. It's certainly not good, as credit scores upwards of 660 are only average. If your credit score is in this range, you probably have a late payment or two, as well as high balances. The best way to improve your credit score is to pay off high balances, make on-time payments, and apply for new credit sparingly.
Does it affect your credit score if you check it too often?
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If your bank pulls your credit twice for the same loan will that decrease your credit score?
The answer depends on the reason behind the credit inquiry. If this was for a car loan or mortgage application, the bureaus do allow for "shopping time" for these types of transactions. You will have 30 days to initiate any number of similar inquiries (home or car loan) and it will only have the same effect as one (in other words, if you apply at 5 different mortgage lenders, all 5 credit inquiries will only count as 1, until the 30 days expire). If this was for a personal loan, credit, or other transaction, then yes, each inquiry will count against your score, but typically the worst credit inquiries can affect your score is 10 - 15 points max. and it would take quite a few to effect your score by even that much. Furthermore, they fall off after only 2 years, so they really have a very minimal effect on your FICO. Hope this helps!
How much does a bankruptcy negatively affect your credit score?
A bankruptcy stays on your credit report for 10 years and you may have to answer about it for the rest of your life. Who knows what effect it has on your credit score? Companies that lend money. Only when you apply for credit after bankruptcy will you know the full detrimental effect.
What is the meaning of credit plus?
The PLUS score is a type of credit scoring similar to the more well known and influential FICO scoring system. PLUS was developed by Experian and is only used by that company. It is not as widely accepted or as influential as the FICO score.
Can a stranger find your Fico score?
the only way to get your FICO score if to access your credit report if they can get your report they can get your score. check out www.thecreditguy.tv for more information
Is Credit Karma a legitimate free service or a scam?
Are you really going to listen to someone who can't spell listen? It is not a scam, it is a legit site. I have been a member of Credit Karma for 3 years now and my identity has not been compromised. The reason it is free is because it is not a FICO score (the one that really matters) it is a score from TransUnion who is a reputable credit report agency. It is very close to the FICO score as it was only 7 points away from my FICO score. And to add, the score is not a real score like FICO. It is a "guessed score" based on your real credit report.
How would one go about buying credit scores?
One has to purchase their credit score which is different from a credit rating. The credit score is purchased from FICO which is the only place to buy if from so you do not get two different scores.
Where do you rent if you have a low fico score?
From a landlord that only has a few properties and does not have the resources to pull a credit report on his potential tenant's
Can you get a loan with only 1 fico score?
FICO scores do not go down to 1.
What is the difference between your credit score and your beacon score?
Your beacon score is basically an equifax branded FICO score, there is no difference except that a beacon score uses data found in your equifax credit report only. So if data furnishers do not report to equifax it will not appear on their credit report and thus this information will not be reflected in your beacon score.
Is it possible to get a credit score 570 and a FICO score of 664?
Yes. There are three (3) credit bureaus and each of them have a different algorithm for computing a credit score. A FICO score is a branded score that comes from Fair Issac Company and is generally used as in input to credit bureau scoring. Having such vastly different scores, however, is more likely to come from having different information in the different credit files. Sometimes lenders only report to two (2) of the credit bureaus, and some only report to one (1) bureau. Your scores are only going to be as good as the data available to the credit bureau. If you are concerned, you may always dispute transaction line items that are incorrect or ask to add items that may not be present. These actions, over time, will bring credit scores closer together.
How often does the credit bureau update beacon scores and by how many points?
Credit bureaus don't update your credit scores. They update your credit reports. It is a third party company (FICO, Beacon) who processes the information on your credit reports and produces your credit scores. I have continuous real-time access to my Equifax score, and it updated once at the end of February, and then increased by a point in Mid-March. So I'm going to say twice a month based on my experience with accessing my Equifax Fico Score. I can't be certain about the other two bureaus. Basic credit information is reported and updated (usually once a month, sometimes less frequently) by the creditors. Your credit score is a calculation based on that data. The calculation is only performed when a score is requested. So, your score would be updated only upon request.
Is FICO score meant only for people who are using SSN not ITIN?
FICO scores are used for people with both social security numbers and individual taxpayer identification numbers. Credit is rated by the number and type of account.
Is a 658 credit score ranked as fair or good?
Before answering this question, you need to apply the proper credit score range, which for Fico is 300-850 and for VantageScore, is 501-990. We'll assume you're referring to Fico, as it's the most commonly used credit score out there. A 658 credit score would be defined as below-average credit, or perhaps fair. It's certainly not good, as credit scores upwards of 660 are only average. If your credit score is in this range, you probably have a late payment or two, as well as high balances. The best way to improve your credit score is to pay off high balances, make on-time payments, and apply for new credit sparingly.
When looking at your credit report newer history has more impact on your overall rating than older history?
There is no "one" credit score, and the actual componets which go into a credit score are known only by the company who created the scoring model to begin with. Only Fair Issac (FICO), with that beinging said if you take the exact same application and run it through all three credit bureaus, you many end up with three different credit scores.
