Did you know Beacon scores can range anywhere from 300 to 850?

Reportedly, only 13% of credit scores exceed 800, and only 1% achieve a perfect score of 850.

Typically, the higher the score, the lower the risk to default in the lenders mind.

The scoring is computer generated taking into consideration the following 5 factors:
(also showing the percent of influence)

1. Payment history – 35%
2. Credit utilization – 30%
3. Length of credit history – 15%
4. New credit – 10%
5. Types of credit used – 10%