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Mega Contributor
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Interesting find on EX PLUS scores from AMEX creditsecure

amexcreditsecure.PNG

 

What makes a PLUS score. Thought that was interesting...




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
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Re: Interesting find on EX PLUS scores from AMEX creditsecure

Did they include this statement from EX?

 

Calculated on the PLUS Score model, your Experian Credit Score indicates your relative credit risk level for educational purposes and is not the score used by lenders.

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Re: Interesting find on EX PLUS scores from AMEX creditsecure


MarineVietVet wrote:

Did they include this statement from EX?

 

Calculated on the PLUS Score model, your Experian Credit Score indicates your relative credit risk level for educational purposes and is not the score used by lenders.


Didnt see that anywhere on there...




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
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Re: Interesting find on EX PLUS scores from AMEX creditsecure

It's near the bottom of the first page of the EX website.

 

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Re: Interesting find on EX PLUS scores from AMEX creditsecure

I think the disclaimer is part of the settlement with the government over advertising of "credit scores". I don't believe it means lenders can't use PLUS scores. In fact, I bet EX would love their proprietary model to gain more traction with lenders.
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Re: Interesting find on EX PLUS scores from AMEX creditsecure


ctb89 wrote:
I think the disclaimer is part of the settlement with the government over advertising of "credit scores". I don't believe it means lenders can't use PLUS scores. In fact, I bet EX would love their proprietary model to gain more traction with lenders.

I agree that it doesn't prevent lenders from using PLUS scores but it also clearly says that lenders DO NOT use the PLUS score.

 

Therefore the PLUS score is useless.

Mega Contributor
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Re: Interesting find on EX PLUS scores from AMEX creditsecure

[ Edited ]

MarineVietVet wrote:

ctb89 wrote:
I think the disclaimer is part of the settlement with the government over advertising of "credit scores". I don't believe it means lenders can't use PLUS scores. In fact, I bet EX would love their proprietary model to gain more traction with lenders.

I agree that it doesn't prevent lenders from using PLUS scores but it also clearly says that lenders DO NOT use the PLUS score.

 

Therefore the PLUS score is useless.


Prosper (online loan service) uses a form of PLUS score to make loan decisions. Thats the only one I know about that uses it.




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
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Re: Interesting find on EX PLUS scores from AMEX creditsecure

Prosper uses a ScoreX Plus which is much different from PLUS. I recently applied at Prosper and decided to pull my PLUS the same day. My ScoreX Plus was 60 points higher than PLUS.

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Re: Interesting find on EX PLUS scores from AMEX creditsecure


llecs wrote:

Prosper uses a ScoreX Plus which is much different from PLUS. I recently applied at Prosper and decided to pull my PLUS the same day. My ScoreX Plus was 60 points higher than PLUS.


That is true, its a version of EX PLUS.




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Moderator Emeritus
Posts: 11,072
Registered: ‎12-30-2011
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Re: Interesting find on EX PLUS scores from AMEX creditsecure

[ Edited ]

LS2982 wrote:

llecs wrote:

Prosper uses a ScoreX Plus which is much different from PLUS. I recently applied at Prosper and decided to pull my PLUS the same day. My ScoreX Plus was 60 points higher than PLUS.


That is true, its a version of EX PLUS.


Interesting; I know Prosper has been on-again / off-again from a credit reporting perspective, but if they're using the scores does this mean they're now back to reporting to at least EX?

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 700, TU 04 731, EX 98 725 (05/24/15)
Goal Score: 700 on EQ 04 (01/01/16)


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