Quick LOAN REQUEST

About Beacon Scores

Beacon Scores are determined by the credit reporting bureau (Equifax) based on information received by your creditors.

The information supplied by creditors to the credit bureau includes items that determine a person’s general credit worthiness; this includes information on: late payments/payments paid on time, current balances compared to credit limit, and any adverse comments from creditors (judgments, collections) etc…

The chart below is interesting — it shows the statistical chance of future default based on current Beacon Score. For example, if you have a 600 Beacon Score you might see this as a high score, but the Lender sees it as 37% chance of default. The statistical chance of default really only drops when the Beacon Score is 700+. Higher Score = Better rate discounts.

EQUIFAX BEACON VALIDATION ODDS SUMMARY
General Application — All Industries

BEACON Range Statistical Percentage
< 500 65.50% 550-599 49.00% 600-609 37.60% 610-619 35.00% 620-629 31.50% 630-639 27.60% 640-649 24.80% 650-659 20.70% 660-669 16.90% 670-679 14.50% 680-689 11.80% 690-699 9.70% 700-709 7.70% 710-719 6.40% 720-729 5.30% 730-739 3.90% 740-749 3.20% 750-759 2.40% 760-769 2.10% 770-779% 1.90% 780-789% 1.40% 790-799 1.00% 800> 0.90%

Statistical Percentage shows the percentage of the general population falling within
in this Beacon score range, who are likely to go 90 or more days past due in general
within the next 24 months on one or more credit card/loan account.

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