Regular Contributor
Posts: 143
Registered: ‎06-05-2008
Re: myFICO vs. Lender Pulled Scores

AquaCredit wrote:

Oh, I understand. But the point is, its wrong if consumers personal information isn't protected and we don't have free access to what people are saying about us. Fact is, If I have your social security number, I can pull your credit, and put an entry on there saying you owe me money and you can't stop it. This is exactly why people are protesting on wall street. This is really crooked... And there are a TON of very evil collection agencies in this country collecting on debts that aren't even valid. It's a thriving and viable business and its because of THIS system that they survive. And why is FICO selling us a score knowing that most lenders aren't even using it?

I'll do devil's advocate. It's not your personal information that is being reported. It's the banks financial information that is being reported. It's not really your credit report. It's the bank's credit report on you. That is how they look at it. They are paying to report and be reported to. They covet their right to do this. It's a big club...and we aren't in it. And they believe in the golden rule. Now they are obligated to follow state and federal laws in regards to reporting and collecting. The information does have to be accurate according to federal law.


Don't get me wrong, I have no love for the system. I believe it is crooked. Look who runs it. How could it not be!Smiley Very Happy


I can't speak to as why FICO only sells one of their products to consumers. We just really aren't their big customers.

Ex: 657 (fico lender pull)
Tu: 666 fico
Eq: 641 fico