Re: Feedback from the FICO Forums community
02-04-2009 02:21 PM
The scores themselves are generated at the credit bureaus; myFICO is simply the go-between, the conduit between the consumers and the CB's through which consumers can buy their scores.
If EX doesn't want to let consumers have their scores anymore, there's nothing myFICO can do to force them to hand them over.
Yes, but myFICO is a division of Fair Isaac, and fair Isaac is providing the formula to EX in the first place (for a fee I'm sure). The scores are generated by the credit bureaus, using formulas licensed by Fair Isaac, correct?
In one sense, that would mean Fair Isaac would potentially have some say in how their formula is used (although I'm sure it's not at all that simple), but they wouldn't want to play hardball to keep EX consistent with the other bureaus, for fear that EX would stop using FICO's formulas altogether.
I realize that myFICO is the go-between...I never mentioned myFICO, specifically - but you still are a representative of Fair Isaac. I'm sure myFICO itself doesn't have much weight in the decision making - and it's also apparent that your parent company knows they make more money giving in to EX (who they are essentially a vendor to) than what they make off of myFICO, but that's to be expected.