I have USBank, and earlier this week saw the link to access my credit score. But when I hit it and it sent me to Experian's site for a plus score, I gave it a pass.
IME, Plus scores are virtually useless (at best) and potentially damaging (if you give them any heed). Following the advice that comes with a PLUS score can hurt your FICO score, and we have numerous numerous (did I say numerous?) posts on here from folks who moved forward with financial decisions based on the fako PLUS score and/or advice they had accessed. The truth is PLUS scores and PLUS advice do not mimic or even shadow FICO scores.
My biggest problem with PLUS and other fako scores is the reason codes that accompany the fake scores (such as the one DI quoted about the mortgage). Folks simply forget to ignore them, and forget that they are not the same as the reason codes FICO uses. Then you have folks making financial decisions that can (and do) actually hurt FICO scores.
Here's my history on comparing PLUS scores with FICO scores.
I was pulling fako PLUS scores when we did our mortgage app. That allowed us to compare all three PLUS and FICO scores for both DH and I - so six scores altogether. I also subscribed to ScoreWatch and got FICO EQ score updates that I compared with my ongoing CCT fako PLUS scores.
When we compared scores, they were all over the place. DH's PLUS EXP score was his highest, his FICO EXP score was his lowest. Mine was converse; my PLUS EXP score was my lowest and my FICO EXP score was high.
DH's PLUS score range between the three CRA's is less than 10 points. His FICO scores cover an almost 90 point range.
When comparing FICO to PLUS, some of our scores were relatively close, some were 100 points off.
When my FICO went up, my PLUS didn't. When my PLUS went up, my FICO went down. No pattern. No nothin'.
"The truth is, only Fair Isaac knows how FICO scores are calculated, and their formula is kept very secret. Other credit scores can sometimes come close to the mark, but they can be off by as much as 100 points either way. This is important because lenders don't use FAKO scores; they almost always use FICO. So it does you no good to know a score that a) isn't correct, b) won't be considered by lenders."
Experian is fairly straight forward in saying, "The Experian-developed PLUS Score model is a consumer-focused credit score." That means it is a product designed to sell to consumers. It is, in short, a cash cow. Because it is not designed to mirror FICO - but is designed as a consumer tool, it has differing criteria. That is also why the advice given along with PLUS and other FAKO scores is faulty when applied to FICO scoring. Following FAKO advice can, and does, lower FICO scores.
Hope that's helpful!
