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Administrator Emeritus
Barry
Posts: 4,386
Registered: ‎03-01-2007

The sale of Experian-based FICO scores to lenders is not affected by the recent myFICO change

[ Edited ]

Attention Lenders:

 

Fair Isaac recently received notification from Experian of its decision to terminate the agreement which allows the distribution of Experian-based FICO® scores and reports from www.myFICO.com.

This change became effective on February 14th, 2009. While Experian’s decision eliminates the consumers’ ability to see their own FICO® scores, it has not impacted your ability to use FICO® scores in your lending decisions.

Specifically:

• This action by Experian is specific to Fair Isaac's consumer business unit.

• Fair Isaac is dedicated to offering FICO® Scores to financial institutions via all three of our bureau partners to provide the most independent and fair representation of a consumer’s credit picture.

• Experian recently recommitted to continue offering FICO® Scores to its lending clients.

• To meet consumers’ credit empowerment demands, Fair Isaac will continue to offer both Equifax and TransUnion credit management services through our myFICO.com web site.

Be assured that we will communicate any change in status to you should it occur. Until then, we look forward to providing quality analytic scores and services as we work towards advancing innovations in our offerings.

If you have any further questions, please contact your Fair Isaac representative.

 

 


Message Edited by Barry on 02-23-2009 12:48 PM
Barry Paperno, assisted by an invaluable team of dedicated volunteer moderators, launched, grew and guided the myFICO Forums from 2007 to 2012.

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

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