What is the lighthouse's score?

Lighthouse score is a type of credit score used by Equifax, one of the main credit agents. The original lighthouse score was largely replaced by scoring the new generation, but the term is still used in some regions. The higher the score, the more the consumer, with a high score, suggests a high probability that any loans will be repaid, probably in time. Lower scores indicate that a person is a credit risk that does not have to repay the loan. The algorithm is considering consumer history, the overall use of credit and other factors to create a numerical score. Credit score does not reflect the ability to pay so much as they indicate whether the consumer is likely to repay the loan. Some people are fully able to accept a loan in terms of income requirements, but have a bad credit score, suggesting that it may not be inclined to pay the loan, which would make them a credit risk.

The lighthouse score is used internally. It is available to creditors, including companies for which a person can apply for loans and other forms of financial assistance. People are not entitled to see their score, even if they have access to the estimated score. Many banks and other financial institutions offer credit score monitoring on their accounts, and this may include estimates of current credit scores along with tips to improve them.

The lighthouse score may drop between 300 and 850. Anyone with a score higher than 750 is said to have a very good credit and are an excellent loan candidate. The score between 700 and 750 is good, while the score between 650 and 700 is "average". A lower score may indicate that someone is not trustworthy. People with these scores may not be entitled to certain types of loan and can pay high interest on Cru to which they have access.

While the same credit scoring model uses different credit agents, it is still possible for the score to differ. Sometimes there is information about the VARI fileabile. Thus, the lighthouse score may be higher or lower than the score provided by other agencies. It is advisable to check the credit reports regularly for all credit agencies to check the differences between messages and, in particular, to closely look for signs of financial activities that can be fraudulent.