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I have been hearing lately that Equifax is going to stop supplying 3rd party sites (like Credit Karma, and maybe MyFico? Credit.com?) with their info and start their own exclusive site for daily updates and other info perhaps charging 5 dollars to join.
I have a few monitoring services but I have always enjoyed Credit Karmas set-up with Trans and Equifax (not due to the scores but to the wide range of information and tips to better your credit plus weekly updates). If they no longer have 2 bureaus they become like all the other one bureau monitoring sites Wallethub, nerdwallet etc.
I hope this will not occur but where there's smoke there's fire usually.
Where did you hear this? I would love for EQ to provide FICO scores. They are the elusive one. Have no clue how this all works but I'm wondering if that can even happen with MyFICO considering they are FICO after all, even if their monitoring service is a separate product.
@Trudy wrote:Where did you hear this? I would love for EQ to provide FICO scores. They are the elusive one. Have no clue how this all works but I'm wondering if that can even happen with MyFICO considering they are FICO after all, even if their monitoring service is a separate product.
One of my friends said he read it somewhere and then upon searching I saw this video on youtube referencing it.
@Iusedtolurk wrote:I have been hearing lately that Equifax is going to stop supplying 3rd party sites (like Credit Karma, and maybe MyFico? Credit.com?) with their info and start their own exclusive site for daily updates and other info perhaps charging 5 dollars to join.
I have a few monitoring services but I have always enjoyed Credit Karmas set-up with Trans and Equifax (not due to the scores but to the wide range of information and tips to better your credit plus weekly updates). If they no longer have 2 bureaus they become like all the other one bureau monitoring sites Wallethub, nerdwallet etc.
I hope this will not occur but where there's smoke there's fire usually.
I for one will never, ever pay Equifax one penny for anything. We're coming up on 3 years on their unforgivable data breach and they have yet to pay out one cent to the 100 million+ people they damaged for life with their gross dereliction of duty. They did give the CEO in charge when the data breach occurred a nice little $80 million severance pay. Effe them.
Would they also stop providing their data to the several credit unions who pay them for the data and then provide a version of a Fico score to their members as a service? I doubt it, all the CUs would need to do is switch to TU or EX who I'm sure would be happy to oblige.
This would be a huge antitrust issue. I don't think even Equifax is stupid enough to think they would get away with it.