FICO is the dominant U.S. credit scoring model (commonly on a 300-850 scale). Scores are driven mainly by payment history and amounts owed, with additional weight for credit history length, new credit, and credit mix. Different FICO versions and bureau scores exist, so the score a lender sees may vary. Check reports from each major bureau and dispute errors to protect and improve your score.

What is a FICO (Beacon) score?

FICO is the most widely used credit scoring model in the United States. Lenders use FICO scores to estimate the risk of lending to you. You may also see the term "Beacon" in older materials; it has been used historically in connection with consumer scoring and bureau-branded scores, but bureau and vendor names and products have changed over time .

Other models exist (for example, VantageScore). Different lenders and credit bureaus may use different versions or industry-specific variants of FICO (such as Auto or Bankcard scores), so the exact number a lender sees can vary.

Score range and versions

Most modern FICO scores range from 300 to 850. FICO publishes several versions (for example, FICO Score 8, 9, 10T, and industry-specific scores) and updates its models periodically. Lenders can choose which version or a custom score to use when evaluating applications.

How FICO scores are calculated

FICO summarizes your credit behavior into a single score using five broad factors:

  • Payment history (about 35%): On-time payments versus late or missed payments.
  • Amounts owed (about 30%): The total debt and how much of your available credit you use (credit utilization).
  • Length of credit history (about 15%): Age of accounts and average account age.
  • New credit (about 10%): Recent inquiries and newly opened accounts.
  • Credit mix (about 10%): Types of credit you have (installment loans, credit cards, etc.).
These percentages are a general guide published by FICO and represent typical relative weights. Individual scoring versions can treat specific accounts or events differently.

Why check your credit report before applying

Your credit report and score affect loan approvals, interest rates, and even some job or rental decisions. Errors, identity theft, or old derogatory items can lower your score. Checking your report helps you find inaccuracies and prepare stronger loan applications.

How to check and fix errors

You can request your free credit reports from AnnualCreditReport.gov and review each bureau's report (Equifax, Experian, TransUnion). 1 If you find an error, file a dispute with the bureau that lists it and provide supporting documentation. Also contact the creditor that reported the information so they can investigate and correct records.

Maintaining timely payments, reducing high balances, keeping older accounts open when sensible, and avoiding many hard credit inquiries in a short period are practical steps to improve score over time.

  1. Confirm historical use of the name "Beacon" and which bureau or vendor used it for FICO-branded scores.
  2. Verify current availability and frequency of free credit report access via AnnualCreditReport.gov (weekly vs. annual) as of 2025.

FAQs about Beacon Score

Is Beacon the same as the FICO score?
Beacon has appeared as a brand or product name tied to bureau scoring in the past, but FICO is the scoring model. Bureau and vendor names have changed over time, so historical uses of "Beacon" may not reflect current branding or products .
What is the typical FICO score range?
Most modern FICO scores range from 300 to 850. Different versions and industry-specific scores may apply in different lending situations.
How often should I check my credit reports?
Check your credit reports regularly - especially before applying for credit. You can obtain reports from AnnualCreditReport.gov and review Equifax, Experian, and TransUnion for discrepancies. (Check the current availability and frequency of free pulls at the site.)
What should I do if I find an error on my report?
File a dispute with the credit bureau that lists the error and provide documentation. Also contact the creditor that reported the information so they can investigate and correct their records.

News about Beacon Score

(PDF) Credit Risk, Credit Scoring, and the Performance of Home Mortgages - researchgate.net [Visit Site | Read More]

Is it possible to achieve a perfect credit score of 850? - Yahoo Finance [Visit Site | Read More]

What Credit Score Is Needed to Buy a Car? - NerdWallet [Visit Site | Read More]

What is the best credit score to have? - CNBC [Visit Site | Read More]

My Parents Opened a Credit Card in My Name. They Won’t Let Me Close It. - Slate [Visit Site | Read More]

The 800 Credit Score: What It Means, Why It Helps and How To Get One - Bankrate [Visit Site | Read More]

Young employees see value in good credit… among bosses - businessinsurance.com [Visit Site | Read More]