11-02-2012 09:02 PM
I don't understand why we can't buy our EX scores. Its horsesh*t. They're OUR scores, we should be able to get them without a hard pull from a lender.
11-02-2012 09:04 PM
Stuff like this really drives you to drink.. Grab a nice stiff drink. I mean what the hell Experian. TU and Equifax ain't much better, but at least they let you buy YOUR SCORE.
11-02-2012 09:49 PM
I give you some late night reading, in the form of the saga of mycreditplan.org
|Chase Freedom $9500|
DCU Visa $10000
Capital One QS $2000
AMEX BCE $3000
|Lowe's CC $8500|
WalMart CC $3100
BOA Platinum $600
AMEX Gold NPSL
11-02-2012 09:52 PM
11-02-2012 09:58 PM
At least we can still buy a report. Still trying to figure out why they sell consumers a PLUS score.. but not the FICO via their site...it's sad.
11-03-2012 07:05 AM
11-03-2012 09:49 AM
11-03-2012 01:30 PM - edited 11-03-2012 01:32 PM
As a bit of history, it is only fairly recent that consumers even obtained the right to receive a copy of their own credit report.
Businesses that produce credit reports are commercial businesses who sell products. It is rare for congress to prescribe who a business must sell their products to, let alone to make their product free once a year. They chose to limit that requirement only to credit reports, not scores.
Credit scores were not created for consumers, they were created for creditors and businesses to assist in their business decisions. They are not consumer property that must be provided at consumer request.
In enacting legislation, congress carefully and intentionally limited requirement to extend their prescription to credit scores.
Section 609(a)(1) provides the consumer the right to obtain any information in their credit file by formal request to the CRA, subject to providing proof of their identity and payment of a fee to the CRA.
Section 609(a)(1)(B) specifically clarifies that this right does not extend to requiring a CRA to disclose to a consumer any information "concerning credit scores or any other risk scores or predictors relating to the consumer."
Disclosure of credit scores is, under FCRA 609(g), imposed on certain mortgage lendors if they use a score in their decision-maling. They must discose to the consumer any score they procured from a CRA that was used in connection with a loan application, as well as the key factors they used from that score. That requirement is upon the lendor, not the CRA.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.