Consumers blindsided by Experian on credit score
At a time when it’s so important for consumers to monitor their credit scores, Experian, one of the three credit reporting agencies, has decided consumers are not entitled to see their FICO scores based on their Experian credit file. I did call Experian’s press office for a comment, but have not yet received a call back.
Federal law only requires that the credit reporting agencies make your credit file available, there is no law stating that you must have access to your credit score before applying for a loan.
Beginning on February 13, you will only be able to get Equifax and TransUnion credit scores on myFICO.com. When you go to myFICO you’ll see a banner headline about the cutoff by Experian. According to the notice on myFICO’s discussion boards, Fair Isaac says, “It is important to understand the majority of lenders will continue to use FICO scores based on Experian data to make creditworthiness decisions, but those FICO scores based on Experian data will not be available via www.myFICO.com, nor any other public venue.”
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Given that Experian advertises the most on TV pushing their website FreeCreditReport.com with the singer whose credit score got ruined, it’s ironic that they would close off access to this important piece of information. You can see comments about the change on the forums at myFICO.com. Here’s one excellent comment from that board: “The conspiracy theorist/paranoid side of me wants to think that this is EX giving into pressure from their lender customers, who, without an informed public with any real visibility into their own credit scoring, can approve, reject and set rates with little or no explanation to the applicant other than the standard “due to information in your credit report” bit.”
Not saying one should do so, but one were could, if so inclined, contact the company to express one’s displeasure. Perhaps at a risk to one’s credit score. Not that anyone other than lenders would be allowed to know that that has happened, of course.
#19, Lou,
I agree.
#16, Mustard,
Yes, yes, I apologize. I had just read a couple of right wing nut posts claiming I had changed the subject. I’m sure you can understand my psyche at that moment.
#’s 21&22
Mister Fusion,
You only antagonize Yourself and encourage the so-called right-wingers by entering into their arguments.
What is there to accomplish?
As far as They are concerned the Ultra-wealthy are the sun and themselves the planets that exist only to orbit the immense,corpulent girth.
Any other views threaten to disrupt the fragile solar balance and send the celestial passengers spinning into the sweet corona sphere to be consumed by the ever-beckoning greed or flung off to the comet realm and be deprived of the benevolent,holy
solar radiation.
Who wants that?
Unless You have training in the field of Cult-deprogramming then some other means of entertainment would be indicated,don’t be taken for a ride on the hale-bop.
The comet is actually under the sink next to the scrubbers;/
these guys need you more than we need them. get off the merry go round and pay cash.
Uncle Dave, great post. I did a follow up on this toay at http://www.videocreditscore.com/experian-under-fire/
It looks Senator Chris Dodd is going to look into this a part of his initiative to curb credit card practices.