Regular Contributor
Posts: 125
Registered: ‎03-10-2007

Legality of Experian selling 'Credit Scores'?

I apologize if this has already been answered, but here goes.


How is it legal for Experian to advertise their PLUS score as a CREDIT SCORE on their website?


Here's from their site:


"IMPORTANT INFORMATION: When you order your $1 Credit Report & Score, you will begin your 7-day trial membership in Experian Credit TrackerSM. If you don't cancel your membership within the 7-day trial period*, you will be billed $17.95 for each month that you continue your membership. You may cancel your trial membership anytime within the trial period without charge."


Well, that's all fine and dandy, but there's this small bit of stuff in fine print that says:


"The credit monitoring benefit may only be available for 5 days during your trial period since enrollment can take up to 48 hours. You may cancel your trial membership any time during your first 7 days without charge.  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."


How is that remotely legal to call it a CREDIT SCORE when 90% of lenders still putl the FICO Standard?


Starting Score: 605 (Experian); 588 (Equifax); 590 (TransUnion)
Current Score: 626 (Experian); 667 (Equifax); 670 (TransUnion)
Goal Score: 800

Established Contributor
Posts: 754
Registered: ‎11-20-2012

Re: Legality of Experian selling 'Credit Scores'?

Because there's nothing inherently illegal about selling a credit score. They're not identifying it as a FICO score, and most people don't know how to tell the difference between a FAKO and a FICO anyway. If they were saying "This is a FICO score" and it wasn't, that would be one thing. But this is clearly labeled for educational purposes only.

Is it legal? Sure. Is it jerk-like to capitalize on the ignorance of your average consumer? Possibly. But it's not illegal to be a jerk.

Epic Contributor
Posts: 22,406
Registered: ‎01-17-2008

Re: Legality of Experian selling 'Credit Scores'?

They are their own company and they have the legal right to formulate a score based on their criteria.  So do the other 2 CRAs and they do.


Epic Contributor
Posts: 21,256
Registered: ‎03-19-2007

Re: Legality of Experian selling 'Credit Scores'?

There might be a huge anti-trust issue involved with any requirement that only Fair Isaac can sell credit scores........

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