@Anonymous wrote:
@Habibimo wrote:
Hello.
I don't know if its the right place to ask but I just wanted to know which product would be accurate?
Currently I have Amex Credit Secure which shows me some kind of PLUS scores and let me request report from all 3 Bureaus twice a month. I was thinking if I should keep that ($14.95/Month) or should I switch to THIS Fico Product ($19.95/Month) which I beleive shows FICO scores and only 1 report a month?
Are they both same?
Thoughts please!
No, they're not the same. The scores you receive from American Express are plus scores. Sometimes you will see them referred to as FAKOs. While helpful the scores are not utilized by any creditor. Here is the explanation from AE:
Each PLUS Score is a credit score calculated based on information in the individual credit report provided by one of the 3 Major Bureaus. The PLUS Score® is designed to represent your overall credit risk. PLUS Scores are not used by lenders and you should not rely only on PLUS Scores to understand how lenders will view your creditworthiness.Lenders use several different credit scoring models
The scores here are true FICO 08 scores and used by a lot of creditors, most specifically credit card issuers. They are not used however by mortgage companies. For the $19.95/month you receive one credit report for each of the 3 main CRAs and alerts to your credit scores brought on by various changes in your credit file. These alerts can happen multiple times during a day or go week without updating if there are no changes to your credit file. You do not get a new credit report each month. If you wanted updated reports to show new inquiries, credit lines, balances, etc you would need to purchase new reports.
Hopee this helps.
Thank you for the explanation!
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