topic Re: Experian PLUS in Understanding FICO® Scoring

Experian PLUS

BearsAndTurtlesRtheBest — Tue, 16 Oct 2012 18:33:14 GMT

Does the EXPERIAN PLUS SCORE have any value when it comes to credit decisons? Where can I get my actual Experian FICO score? and also which scoring system do creditors usually use? Thanks!!

Re: Experian PLUS

Jutz — Tue, 16 Oct 2012 19:42:25 GMT

PLUS Scores are the Experian proprietary model. The agreement between Experian and FICO ended a few years back, and since then you are not able to purchase your true FICO Experian scores. Creditors can use any and/or all three bureaus and will nearly every time use FICO scores. There are also different types of FICO scores not available to the consumer that are used in different industries, i.e. Auto Enhanced, for auto loans.

Re: Experian PLUS

cashnocredit — Tue, 16 Oct 2012 19:25:46 GMT

BearsAndTurtlesRtheBest wrote:
Does the EXPERIAN PLUS SCORE have any value when it comes to credit decisons? Where can I get my actual Experian FICO score? and also which scoring system do creditors usually use? Thanks!!

The Experian "Plus" score, a score not sold to lenders, nonetheless correlates with FICO scores better than VantageScore which is actually sold to a few lenders. It's one of the scores used in the CFPB score study and has a correlation of around .93 with FICO scores. That may sound high but it means you can expect a good chance that FICO and Plus will vary more than 50 points.

http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/CFPB-released-a-report-comparing-FAKOs-FICOs-and-VantageScore/td-p/1616506

Re: Experian PLUS

BearsAndTurtlesRtheBest — Thu, 18 Oct 2012 02:25:27 GMT

I see, now i can rely on my fico scores when applying for credit cards or loans. Thanks for all the information!