Beacon Score

A Beacon Score is a credit score that is based on a consumer's bank account information. It is designed to provide a more accurate picture of a consumer's creditworthiness than traditional credit scores, which are based on a consumer's credit history.

The Beacon Score is calculated using a variety of factors, including the consumer's checking and savings account balances, the number of transactions they make each month, and the amount of time they have had their accounts open. The score is then used to determine a consumer's creditworthiness and eligibility for loans and other financial products.

The Beacon Score is a relatively new credit score, but it is quickly gaining popularity among lenders. This is because it is believed to be a more accurate predictor of a consumer's creditworthiness than traditional credit scores. Additionally, the Beacon Score is available to more consumers than traditional credit scores, as it does not require a credit history.

If you are interested in getting a Beacon Score, you can contact your bank or credit union. They will be able to provide you with a score and information on how to improve your score.

Here are some of the benefits of having a Beacon Score:

* It can help you get a better interest rate on loans and other financial products.
* It can make it easier to qualify for loans and other financial products.
* It can help you build your credit history.

If you are looking for a more accurate and comprehensive credit score, the Beacon Score is a good option. It is a relatively new credit score, but it is quickly gaining popularity among lenders. Additionally, the Beacon Score is available to more consumers than traditional credit scores, as it does not require a credit history.