Beacon score is a number generated by the Equifax Credit bureau, basically your credit score as ranked by Equifax. This number is generated using a complex algorithm of mathematical equations. The software used to arrive at this number originates from the Fair Isaac Company (FICO), who also leases FICO software to Experian, and Empirica to Transunion.

Beacon scores are designed to measure the risk of default by taking into account various factors in a person's financial history. Although the exact formulas for calculating credit scores are closely guarded secrets, the Fair Isaac Corporation has disclosed the following components and the approximate weighted contribution of each:

35% — promptness of payment in the past (only includes payments later than 30 days past due)
30% — the amount of debt, expressed as the ratio of current revolving debt (credit card balances, etc.) to total available revolving credit (credit limits)
15% — length of credit history
10% — types of credit used (installment, revolving, consumer finance)
10% — recent search for credit and/or amount of credit obtained recently