03-10-2013 09:32 AM
03-10-2013 10:46 AM
Someone I know received a notice from the gas company saying his experian fico was 380. We checked his equifax fico on myfico and it was 660. He has no major collections, delinquencies, or bankruptcies. In addition, fako scores from all three agencies are in the 680s. Is it really possible that his experian fico is 380, given all of this other info?
Ask him or her if the score did indeed say "FICO" or if it said something like "Experian Credit Score" or something like that. Big difference. There are a number of consumer risk scores out there used by utilities and they don't necessarily have a 300-850 range like most FICOs.
03-10-2013 11:24 AM
03-10-2013 11:38 AM
We just re-read the paper closer and it says the score is based on a special tool developed for utility companies.
Is the score likely low because this is the first time has has had a utilities account in his name and first time apartment rental?
There's an assumption here that the score is low. Maybe the score range is 0 to 400. Not all scores are 300-850. If the letter had specific terminology with a score name, then you can look that up to see if there's a published range somewhere.
03-10-2013 02:09 PM
It is the one from the utilities, Exchange Credit Services. I haven't been able to see what their score ranges are but several posters have had negative numbers and I think the highest I saw was a 287.
It is only based on utilities, cable, satellite, cell phones, etc.
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO