10-16-2012 12:11 PM - edited 10-16-2012 12:42 PM
PLUS Scores are the Experian proprietary model. The agreement between Experian and FICO ended a few years back, and since then you are not able to purchase your true FICO Experian scores. Creditors can use any and/or all three bureaus and will nearly every time use FICO scores. There are also different types of FICO scores not available to the consumer that are used in different industries, i.e. Auto Enhanced, for auto loans.
Financed car @ 5.49% w/ DCU, Added DCU VIsa, Chase Freedom,
AMEX Gold and BCE, Lowe's
10-16-2012 12:25 PM - edited 10-16-2012 12:25 PM
Does the EXPERIAN PLUS SCORE have any value when it comes to credit decisons? Where can I get my actual Experian FICO score? and also which scoring system do creditors usually use? Thanks!!
The Experian "Plus" score, a score not sold to lenders, nonetheless correlates with FICO scores better than VantageScore which is actually sold to a few lenders. It's one of the scores used in the CFPB score study and has a correlation of around .93 with FICO scores. That may sound high but it means you can expect a good chance that FICO and Plus will vary more than 50 points.