No More Experian FICO Scores for ConsumersPosted by Cap on February 5, 2009 |
In a lovely Valentine’s gift to consumers, Experian has decided to pull out of its agreement with Fair Isaac and will no long allow Fair Issac to sell FICO scores based on Experian’s data to consumers.
This is actually a fairly big deal, as lenders will continue to be able to get FICO score based on Experian reports through Fair Isaac, but consumers won’t be able to do the same. It puts us, the consumers, at a fairly big disadvantage — especially when we apply for credit from a lender that uses Experian’s data to determine credit worthiness. Want to check your FICO score based on Experian before you apply for credit? Not gonna happen.
The decision by Experian will come into full effect on Feburary 14, 2009. So if you need your Experian FICO score for whatever reason, you should check your Experian FICO scorenow before it’s too late.
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