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Administrator Emeritus
Posts: 4,443
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

Formerly consumer affairs manager, media spokesman and myFICO Forums community manager at FICO, I'm now freelance writing for CreditCards.com, where you can find my stories on the home page every Thursday, and my own site, SpeakingOfCredit.com.

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