02-03-2009 03:06 PM - edited 02-05-2009 08:30 AM
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!!!
02-04-2009 11:40 AM
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
02-04-2009 11:44 AM - edited 02-04-2009 11:47 AM
02-04-2009 11:54 AM
02-04-2009 12:07 PM
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.
02-04-2009 12:55 PM
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.