topic Re: Experian Simulator? in myFICO® Product Feedback

Experian Simulator?

Anonymous — Thu, 24 Apr 2008 05:40:38 GMT

Why is there no score simulator for Experian like there is for the other two?

Re: Experian Simulator?

haulingthescoreup — Thu, 24 Apr 2008 11:08:10 GMT

Because Experian doesn't play well with FICO. You'll notice that they also don't give you positive factors on screen 2, only negative.

ScoreWatch is a joint EQ/FICO product. The quarterly monitoring thingy is joint between TU and FICO, and if you're determined enough, you can buy it from TU on transunioncs.com.

My assumption is that it has something to do with their precious Experian PLUS scores...

Re: Experian Simulator?

Anonymous — Sun, 27 Apr 2008 01:29:00 GMT

so experian Plus score is same as FICO? if I purchased their 3in 1 service will that be FICO scores or FAKO?

Re: Experian Simulator?

haulingthescoreup — Sun, 27 Apr 2008 12:06:41 GMT

@Anonymous wrote:
so experian Plus score is same as FICO? if I purchased their 3in 1 service will that be FICO scores or FAKO?

No, they are completely different, totally unrelated. They're FAKO's, as are the 3-in-1 scores from TrueCredit, CreditSecure, and so on. But they are an income source for EX, shall we say. Right now, the only lender I know that uses PLUS scores for sure is Prosper.com, and even they use a tweaked PLUS score, per their website.

All these varying scores are derived from the basic EX, TU, and EQ reports, but the data on these reports are crunched differently, depending on which formula is used. Experian PLUS uses its own formula to generate PLUS scores, TrueCredit uses TU's TransUnion formula to generate its TransRisk scores, and FICO uses its formula to generate FICO scores. (And so on for the other credit scores out there.)

The underlying information from the reports is the same, but it is calculated differently with each formula, so the resulting scores are completely unrelated. They don't even necessarily go up and down the same time as other scores.

The only place that a consumer can pull EX FICO scores is from myFICO.

Re: Experian Simulator?

Anonymous — Wed, 30 Apr 2008 12:56:54 GMT

i thought CCCU used the EX plus as I lost 19 pts for the inquiry. I don't believe the EX my fico is correct. The info they use comes from TU (they are the only one that uses no installment loans in the negative factors). TU is so far behind in their reporting it is frightening. EX is always first in reporting. They were the first to report cap one cls. The whole thing is frightening to me.