Re: ALL 3 fico scores one site , Road to 850 aka mycreditpl
05-02-2012 05:40 PM
Well, at risk of waking the elephant in the room, I’m just going to say it. This has been on my mind, and as long as I’m suppositioning as to why I think that FICO® was just as involved as the CRAs in keeping this site from offering true FICO® scores, then here you go…
The primary reason that any of these would want the other site to be classified as a “credit repair” agency is for financial reasons - I think we all agree on that. And as another poster stated, how can one better defeat the enemy than to discredit and distract from the real issue?
Question: Why would FICO® be involved in this and want to restrict the other site from offering all three credit scores?
Answer: Because it would hurt their bottom line. This site is administered by FICO®, so I think it’s safe to say that they would suffer if consumers started buying their scores from another site. They pretty much have the market covered, with the exception of joining a bank/credit union/Walmart to obtain true FICO® scores (yes, I know about the outlier named Equifax). So, if I could obtain all three CRA FICO® scores monthly from one site for a reasonable fee, you better believe I’d be all over that. And so would a lot of other people as soon as the word got out. Ultimately, FICO® would suffer financially because they would lose sales of their own product through this site.
I've appreciated the good input from others on this thread; love the discussion - hopefully this post will be able to stay on here...
Starting Score: Jan 2012: EQ - 659, TU08 - 670, EX - ???
Current Score:Dec 2013: EQ - 770, TU08 - 751, EX - 730