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I Wish you could bribe Experian and the gang

Valued Member

I Wish you could bribe Experian and the gang

Y'know... slip a few 20's into their pocket.

Message 1 of 15
14 REPLIES
Frequent Contributor

Re: I Wish you could bribe Experian and the gang

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.


Starting Score: 492 02/12
Current Score: TU: 668 (FICO), EQ: 668 (FICO). EX: 651(lender pull 9/27/12)
Goal Score: 660



Message 2 of 15
Valued Member

Re: I Wish you could bribe Experian and the gang

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.

Message 3 of 15
Valued Contributor

Re: I Wish you could bribe Experian and the gang

I give you some late night reading, in the form of the saga of mycreditplan.org

 

http://ficoforums.myfico.com/t5/Credit-in-the-News/New-Credit-Score-Website/td-p/1086534

 

  • Current: EQ FICO 706, TU FICO 701, EX FICO 706 | Starting Score: 525 (05/2012)
  • Starting total revolving credit: $1100 | Current total revolving credit: $36,700
  • Inquiries (12 Months): EQ 2 TU 1 EX 1 | Most Recent: 1/21/2014
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
Message 4 of 15
Established Contributor

Re: I Wish you could bribe Experian and the gang

They really shouldnt have any legal right to block access to OUR scores, i mean hell its not even their formula. All they do is provide OUR information to fair Isaac. We honestly should have a legal right to obtain our scores if we want IMO.


Starting Score: EQ 609, EX 633(Fako), TU 700
Current Score: EQ 699, EX 758, TU 733
Goal Score: 720 across the board
Garden Club Member-GC Challenge: App free since 10/31/12 Smiley Wink
Message 5 of 15
Valued Contributor

Re: I Wish you could bribe Experian and the gang

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.

As of 2017, rebuilding...
Message 6 of 15
Senior Contributor

Re: I Wish you could bribe Experian and the gang

They aren't our scores. If you asked an analyst to prepare a report on a business you were considering partnering with, would that business have a right to demand that report from you because it was based on their information? A score is an analysis of the information in your report. You have a right to the report but not the analysis. Similarly, we don't have a right to internal risk scores such as the score Amex uses.

Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13); TU 98 728 (01/06/12), TU 08? 760 (provided by Barclay 1/2/14), TU 04 728 (lender pull 01/12/12); EX 742 (lender pull 01/12/12)
Goal Score: 720


Take the FICO Fitness Challenge
Message 7 of 15
Established Contributor

Re: I Wish you could bribe Experian and the gang

+1

Message 8 of 15
Frequent Contributor

Re: I Wish you could bribe Experian and the gang

+++100000



Starting Score: EQ 447 (01/02/2017), TU 476 (01/02/2017), EX 456 (01/02/2017)
Current Score: ALL FICO's as of 03/12/2017: EQ 454, TU 483, EX 440
Goal Score: ABOVE 680 ALL 3
Current Cards: NONE!!! App Free since 12/30/2016 and NOT APPING until 10/2017....
Message 9 of 15
Community Leader
Epic Contributor

Re: I Wish you could bribe Experian and the gang

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.

 

Message 10 of 15