Your credit scores can help you start up a new business or even buy a house. These scores are basically used by Experian, Equifax and TransUnion, all credit bureaus. All three basically follow deviated versions of the Fair Isaac Credit Scoring system. The Equifax bureau uses the Beacon credit scoring system. The beacon credit scoring system takes into account your income, previous jobs, debts and even enquiries. The score calculation considers the above factors in varying degrees. Using this score banks can decide the amount they want to loan you and even the interest rate they will charge for the repayment.