11-11-2012 06:59 PM - edited 11-11-2012 07:01 PM
I tried to sign up for a FICO score but was taken to the landing page with the following message...
Our apologies, an error has occurred...
Thank you for visiting myFICO.com®.
We regret that we cannot provide you with your FICO® score report as your report at Equifax does not meet the minimum scoring criteria. If you were using a credit card, it was not charged.
If you have not already done so, you may want to try ordering your credit report from the other national credit bureau - TransUnion.In addition, your non traditional credit data may be reported to alternative credit reporting agencies and Fair Isaac Credit Services, Inc. can help you get access to this information if present.
Please call Fair Isaac Credit Services at 1-866-838-3427 to obtain a copy of your Fair Isaac Credit Services consumer report.This report does not include a score.To expedite the call, please specify to the representative that you are interested in obtaining a copy of your Fair Isaac Credit Services consumer report.
For any additional questions regarding myFICO.com, please call myFICO.com customer service at 1-800-319-4433 Monday - Friday 6:00AM - 6:00PM or Saturday 7:00AM - 4:00PM PST.
myFICO® Customer Care
Maybe it's me, but telling people this doesn't seem helpful at all. I neither fully understand why I am unable to obtain a score, nor what I would need to do in order to get one. Can anyone explain this to me? I hate getting the run around, and this is what this seems like to me. No concrete answers at all.
11-11-2012 07:11 PM
Hi nontraditionalcredit, there are minimum scoring requirements in order for a FICO score and report to be generated:
In order for a FICO® score to be calculated, a report must contain these minimum requirements:
· At least one account that has been open for six months or more
· At least one undisputed account that has been reported to the credit bureau with in the past six months
· No indication of deceased on the credit report (Please note: if you share an account with another person this may affect you if the other account holder is reported deceased).
Could that have applied (judging based on the user name)?
11-15-2012 03:56 AM - edited 11-15-2012 03:58 AM
Well, that explanation is certainly more helpful than the one that I got from customer service...
Thank you for contacting myFICO Customer Care. Scoring questions are difficult to assess via email - investigating your concern requires asking you some questions. We are unable to efficiently assist you by email.
Please call one of our Customer Service representatives at 1-800-319-4433 (Monday-Friday 6:00 AM to 6:00 PM; Saturday 7:00 AM to 4:00 PM Pacific Time), and we will be happy to assist you.
myFICO Customer Care
Why are they unable to assist by email? Because it would require asking questions? I don't see what's so hard about asking questions in an email, or via any other form of electronic information. Perhaps if they said they needed to ask for something like my social security number, and that they don't ask for this kind of information via email because it's insecure or something to that effect, I would understand, but no such explanation. Just that it's "inefficient" (like having to be left on hold isn't inefficient for the consumer in which case I think their idea of customer service is backwards.) Anyway, end of rant.
The situation with my credit is that about 10 years ago, when I was younger, I didn't manage what little credit I was given very well, and have since never messed with it again. So I think of the three reasons given why I might not have a FICO score, or with TransUnion at least is probably because I don't have any open, or active accounts. Interestingly enough though, when I tried pulling up my scores with Equifax.com, I did have an Equifax, and Experian Score. Just not a Transunion score.
11-15-2012 05:18 AM
I think due to privacy they don't discuss items like this via e-mail, or that would be my guess anyway.
Check with your score from Equifax.com. The score they push is not a FICO score. It's a FAKO called an "Equifax Credit Score". Now they do offer a FICO, they promote their own instead. If it doesn't say "FICO" next to the score then it isn't. Likewise, check for "FICO" next to your Experian score. A few years ago, Experian blocked consumer access to your own EX FICO. You cannot buy it from anywhere, though your lender can get it for you. Also, there are some banks and CUs out there that will give it to you for free as part of a service or benefit.
11-16-2012 07:28 PM - edited 11-16-2012 07:33 PM
I’m a little bit confused by all this. I originally thought there was only 1 FICO credit score, but it would seem there are three. Experian FICO, Equifax FICO, and Transunion FICO, where FICO represents a proprietary formula for calculating scores, and the credit reporting agencies being the ones that plug values into the formula created by The Fair Issac Corporation to create a FICO score associated with their company. When people talk about FICO credit scores, it's not the FICO Score, but rather a FICO score based upon a dataset supplied by a credit reporting bureau. Is that right?
As for the credit scores that Equifax.com happily charges me $16.95 per month for, it looks like this:
None of these credit scores say “FICO” I notice. So I’m guessing none of them are.
Now as far as getting an Experian FICO score, if you have to get it from a bank or credit union, that means there is no way to get, or monitor it without making “hard” inquiries which adversely affect your score right?
11-16-2012 08:08 PM - edited 11-16-2012 08:10 PM
Not trying to confuse things....but there are 40+ FICO scores.
The 3 CRAs contracted with FICO to have them create a score just for their own CRA. Therefore, not all 3 are alike; each formula differs. The most popular scoring versions and used my almost all mortgage lenders are the Beacon 5.0 for your EQ FICO, Fair Isaac Risk Score v.2 for your EX FICO, and TransUnion Empirica 04 for your TU FICO. These are called Classic FICO scores. Aside from mortgage lenders, there are some quite a few banks and CUs that use these classic scores for loans, CCs, auto loans, etc.
Just like with cars, there are different model years for these scores. The Beacon 5.0 for EQ FICO is used by many, many lender and is the same model found on here. But there's a newer version called Beacon 9.0, though thankfully nobody is really using it. The EX FICO used to be available on here at one point before Experian blocked consumer access to your own FICO and that version was used by almost all lenders as well, despite newer versions being available to the lenders to use. Finally, your TU FICO version used by most lenders is not the same TU FICO version used on here. Instead of TransUnion Empirica 04, myFICO offers a 98 version, though there are a small few that still use it. Wal-Mart for example offers a TU FICO if you have their CC. That version is newer (08) but nobody is using it for the most part.
Aside from model years, there are different model flavors that lenders prefer to use. There are bankcard-enhanced FICO scores that weigh your CC experience more. There are auto-enhanced FICO scores that weigh your auto loan experience more, and a couple of others. And with each version there are different years and thet's why there are so many FICO scores. ETA...lenders can pick and choose what FICO version they want to use.
Equifax offers Equifax Complete. This product offers all 3 reports together but they do not offer a FICO. The score they offer is a FAKO called an "Equifax Credit Score". This score is the same across all 3 CRAs but lenders don't use them. IMO, ignore the score and advice. However, the report info is good and you can get a full EQ report anytime you want. It's a good service scores aside.
Right, you cannot buy an EX FICO from anywhere. Experian wanted to compete with FICO due to their investment into VantageScore and figured the best way to accomplish that was to end relations with FICO on the consumer side. As a result, we can't buy our FICO without a lender's help. However, there are some banks and CUs out there that will provide it for you if you ask them. Only a rare few provide this service, but check with an EX-puller near you. PSECU, a PA-based CU, is the most notable of these.
11-16-2012 08:24 PM
Wow... I wonder how they ever thought having this level of complexity to credit scores would be benefical to anyone. Guess I have much to learn about the ins, and outs of credit scores...
11-16-2012 09:07 PM
I like to compare it to all the cars on the road out there. Walk on a lot and you'll have plenty of choices. Maybe you want a sports car or maybe a family van or SUV. Different strokes for different folks. Like with cars, lenders have their own needs and there's no one-size-fits-all.
11-18-2012 08:23 PM - edited 11-18-2012 08:24 PM
How is a person to keep up with this kind of information as it would if it is subject to change? How is a person to know exactly which types of FICO scores are being used most, and how can they be monitored? It would seem as though at least in some cases, there is no easy way for the consumer to do this without some hard inquiries affecting their score in the process.