topic Re: Community feedback about Experian's decision to discontinue offering FICO scores on myFICO in Experian has stopped offering FICO scores to U.S. consumers

Community feedback about Experian's decision to discontinue offering FICO scores on myFICO

Barry — Thu, 05 Feb 2009 16:30:45 GMT

FICO Forums Members:

Please share your thoughts about Experian's decision to discontinue offering Experian-based FICO scores to consumers on the myFICO web site.

As always, we value your input and appreciate your continued support!!!

--The myFICO Team

For more information, please read our FAQ.

Message Edited by Barry on 02-05-2009 08:30 AM

Re: Feedback from the FICO Forums community

MidnightVoice — Wed, 04 Feb 2009 19:40:20 GMT

I will be very polite and understated. I am annoyed and irrtated.

I would be less irritated if I could buy a FICO score directly from EX.

However, I understand that I am NOT an EX customer, the lenders are EX's customers. Hence how I, or millions of other consumers, feel is of no interest to EX. I fully appreciate that not being an EX customer, I am powerless to alter their behavior.

I also understand the difference between immoral and illegal

Re: Feedback from the FICO Forums community

jedijennifer — Wed, 04 Feb 2009 19:47:20 GMT

I am disappointed in Experian's decision to stop letting myFICO offer their score to consumers. Now there is one less tool consumers have to help monitor/improve their credit. It was very nice to be able to get all three scores and know that you were getting FICOs not FAKOs. I'm glad we are still able to get TU and EQ.

Message Edited by jedijennifer on 02-04-2009 11:47 AM

Re: Feedback from the FICO Forums community

nikkij6577 — Wed, 04 Feb 2009 19:53:36 GMT

Just wondering....How am I suppose to get my score from experian now? Can I still purchase my score before February 13th?

Re: Feedback from the FICO Forums community

nikkij6577 — Wed, 04 Feb 2009 19:54:35 GMT

I'm kinda new to the Forum, so 4 give me if I posted this twice. But I was just wondering....How am I suppose to get my score from experian now? Can I still purchase my score before February 13th?

Re: Feedback from the FICO Forums community

fused — Wed, 04 Feb 2009 19:57:33 GMT

Welcome to the forums!

You can still purchase your EX FICO score at this web site through Feb 13th.

Re: Feedback from the FICO Forums community

Scamp — Wed, 04 Feb 2009 20:03:22 GMT

Moved to Understanding FICO Scoring.

Re: Feedback from the FICO Forums community

hawkeye33 — Wed, 04 Feb 2009 20:07:27 GMT

Obviously, it's very disappointing and discouraging. The conspiracy theorist/paranoid side of me wants to think that this is EX giving into pressure from their lender customers, who, without an informed public with any real visibility into their own credit scoring, can approve, reject and set rates with little or no explanation to the applicant other than the standard "due to information in your credit report" bit.

I just really hope that this is not the start of a trend where all three reporting agencies end up going this route in the long run (or that more and more lenders end up using EX scores because they are not transparent to applicants). Ultimately, we have to take it upon ourselves to do all the things we discuss and learn on these forums to improve and maintain our scores, but with every monitoring tool that is taken away from the consumer, we have to put out more effort to make sure that our creditors are not mis-reporting on us and lenders are not exploiting us.

Re: Feedback from the FICO Forums community

ralbusta — Wed, 04 Feb 2009 20:55:21 GMT

This just goes to show that the CRAs and EX more specifically are not consumer oriented companies. Like any other business they cater to who they get their money from: their suscribers (lenders, CAs, etc. anyone who reports accounts to them).

These companies could care less about what is on your report and whether it is correct or not, as exampled by their joke of a dispute/account verification process. The only reason they somewhat attempt to correct errors and the such is because they are legally obligated to have correct information in their files (another huge joke.)

I'm sure you can sense my disgust, and so I will stop now.

Re: Feedback from the FICO Forums community

Sdenisew — Wed, 04 Feb 2009 21:00:29 GMT

Goes to show where the consumers stand. [Insert a ton of profanity here]

Re: Community feedback about Experian's decision to discontinue offering FICO scores on myFICO

Perplexed — Wed, 04 Feb 2009 21:10:57 GMT

This is a truly disappointing decision. Consumers are paying for this service and it increases transparancy. Seems to be a competitive move against myFico. Hopefully the two companies can sort their issues and provide consumers more choices to track their credit in an open manner.

Re: Community feedback about Experian's decision to discontinue offering FICO scores on myFICO

pmoshay — Wed, 04 Feb 2009 21:12:05 GMT

MyFico - What laws govern this area of a CRA's behavior or possible obligation if any to make information they collect/aggregate about us - to us at all?

Consumers should take action on this with their representitives, it's another instance of lobbyists having written the rules in ways that allow the CRA's to behave this way.

Re: Community feedback about Experian's decision to discontinue offering FICO scores on myFICO

urgent_help_needed — Wed, 04 Feb 2009 21:19:39 GMT

It said in the FAQ about this issue that some consumers receive their Experian FICO scores on their bank statements each month. Which banks offer this?

Re: Community feedback about Experian's decision to discontinue offering FICO scores on myFICO

llecs — Wed, 04 Feb 2009 21:20:36 GMT

urgent_help_needed wrote:
It said in the FAQ about this issue that some consumers receive their Experian FICO scores on their bank statements each month. Which banks offer this?

The only one I know of is PSECU in PA.

Re: Feedback from the FICO Forums community

porkozone — Wed, 04 Feb 2009 21:28:35 GMT

ralbusta wrote:
This just goes to show that the CRAs and EX more specifically are not consumer oriented companies. Like any other business they cater to who they get their money from: their suscribers (lenders, CAs, etc. anyone who reports accounts to them)

This also means that Fair Isaac - who is selling the ability to generate FICO scores to EX in the first place - is giving in to the EX "request" to not provide that information.

By extension, this means Fair Isaac is not a consumer oriented company, as well, in my opinion. They apparently are more worried about losing their dominance in the credit score industry, and the money that gives them, than they are to standing firm against such a consumer-unfriendly "request".

Now excuse me while I go get some mouthwash - I have a very bad taste in my mouth.

Re: Community feedback about Experian's decision to discontinue offering FICO scores on myFICO

Solarjuju — Wed, 04 Feb 2009 21:29:52 GMT

Creditors are getting stingy.

But why CRA?

It's not like we're getting the reports for free.

Re: Community feedback about Experian's decision to discontinue offering FICO scores on myFICO

rogerhawkes — Wed, 04 Feb 2009 21:32:31 GMT

i want a refund of my fees paid in advance, for all time remaining after Feb 13, 2009. please send it to me by crediting the card i used to pay my annual fee. roger hawkes

Re: Community feedback about Experian's decision to discontinue offering FICO scores on myFICO

joshs — Wed, 04 Feb 2009 21:32:41 GMT

I honestly don't know why Experian would do such a thing. myFico is offering a service to the average consumers to checking all three scores, and I am sure the myFico was giving dues to each of the 3 companies for providing this information. I know if I was a credit reporting company, and I was getting money from a 3rd party provider, I would continue to allow myFico do what they are doing. (Basically free income).

Now what, will myFico go under because users will be looking for a place that will provide all 3 scores in one handy location. Seems odd to me to go to a different site to just get my Experian number, which I do not want to do, because myFico (even through only using for 2 years now) has helped me understand my credit scores and help clear my credit history of incorrect information.

I can not leave myFICO, it would be the wrong thing to do, they provide a great service. But if I am unable to get all 3 scores in one location, I might have to move, but if Experian is pulling from all other services, then I will remain a loyal customer of myFICO.

Josh

Re: Community feedback about Experian's decision to discontinue offering FICO scores on myFICO

MidnightVoice — Wed, 04 Feb 2009 21:40:37 GMT

joshs wrote:
. But if I am unable to get all 3 scores in one location, I might have to move, but if Experian is pulling from all other services, then I will remain a loyal customer of myFICO.

I don't think there is anywhere else you can actually get all 3 true FICO scores!

Re: Community feedback about Experian's decision to discontinue offering FICO scores on myFICO

chemicalman — Wed, 04 Feb 2009 21:42:06 GMT

Rats,

All I have is a buch of curse words!

Our credit is all we have to protect us from predatory lending practices and now this.

Why?