Experian says you can't see your FICO Score

[Mental]

http://www.dvorak.org/blog/2009/02/06/experian-says-youre-not-entitled-to-know-your-credit-score-anymore/




Consumers blindsided by Experian on credit score (http://www.walletpop.com/blog/2009/02/05/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 (http://www.videocreditscore.com/consumers-lose-againonly-2-of-3-ficos-will-be-available/) 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.”
[...]
http://conservatard.files.wordpress.com/2008/10/screwed.jpgGiven 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.”

[TFOGGuys]

Not a huge surprise. My Fico score has gone up and down over 30 points over the last few months for no apparent reason. My gut tells me that Fico scores are essentially arbitrary.

[Mental]

Yes, but our lives are increasingly governed by these scores, that are dirieved from some Stonecutter (http://en.wikipedia.org/wiki/Homer_the_Great)formula we aren't allowed to completely understand. Its more than just loan rates, a lot of car insurance companies now figure this into determining your rates, more jobs have FICO requirements to be hired., etc etc etc.

So yeah, arbitrary scores that affect a lot of elements of your life and now they are making that number unavailible as well. That is crap and unexcusable in an economy that is in shambles becuase of consumers not understanding their credit. Now as they try to become better watchdogs they will be given a glub answer with no data backing it or information on how to affect it. Making all of us slaves to the credit companies even when we watch our spending.

[XJ600s]

so what does this mean for people who monitor their credit with freecreditreport.com? we won't be able to see our credit score anymore? what's the point in that?

good thing my bank just got hacked again and my information "may have been compromised" and that I got new cards, including the one I use to pay for my freecreditreport.com.

[Snowman]

These companies are private firms whose sole source of income is the information they gather and maintain on individuals regarding there finical situation. They sell this information to banks and loan companies to give them a resource to better make choices about who to give loans to.

This information is considered the private property of those companies and to give this away free would compromise their source of income.

So yes it is in their best interest not to give out this information to anyone with paying for it.

[jimwallace]

snowman, i think mental is saying that we cant see it period Pay or not. if we have to pay then no big deal at least we can still get access. although the use of credit scores i believe has gone too far. they use them for things as mentioned above but they also use them for things such as LIFE INSURANCE AND DISABILITY INSURANCE...i dont really see the relativity to either of those.

[64BonnieLass]

...they also use them for things such as LIFE INSURANCE AND DISABILITY INSURANCE...i dont really see the relativity to either of those.

Also, in qualifying for an apartment, and in some cases getting a job. Some employers feel that if you aren't responsible enough to manage your credit, then you aren't responsible enough to work for them either.

[Wyck]

Crap guess I better get an updated credit score here in the next few days. Was going to wait until I was ready to buy a bike and get financing.

[Snowman]

No, I agree with you Jim.

Companies that deal in personal information like this should be regulated to provide information about and individual to that individual anytime asked they are asked for it at no cost what so ever. In fact, I would like to see these reports on a website that can be accessed by the specific person at any time so the information can be verified correct. Like bank accounts can be now. Not just one a year.

I remember when I first went to get my credit report. I was 18 and trying to get a car loan. I had to go to an office, fill out a form and wait in a line. I presented the form to a person who took my address and then I waited for 3 weeks to get it.

When I did it was 12 pages long with 4 different peoples information on it. I spent the next month going to different banks and proving I wasn’t a 35 year old man with 3 kids, in person because they wouldn’t allow me to do it over the phone.

What I don’t like about it is that other companies can access this information about me easier than I can. And more times than not cheaper.

I pull all three reports every January now just to make sure.

[jimwallace]

ya know what burns my chaps about is that they sell the shit to these companies and the more frequently these companies get youre credit report the more it hurts it.

[VFR]

ya know what burns my chaps about is that they sell the shit to these companies and the more frequently these companies get youre credit report the more it hurts it.

True story and the biggiest load of crap I have ever seen.

[VFR]

Ohh and one more thing. A car company will charge you the fee's they had to pay to look up your credit history. I am buying a 10K plus car from you and you are going to charge me to finance it?

[Sortarican]

You are entitled to get your credit report (FREE) from each of the big three once a year in order to confirm that activity on it is valid.
The trick is to do one of the agencies every 4 months.


... we won't be able to see our credit score anymore? what's the point in that?
....freecreditreport.com.

The truly free reports never had your credit score, just your activity.

freecreditreport.com is a private company, if you want to hire them for fraud protection fine, but if you're paying them to get your credit report don't.
Just go here:
http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre34.shtm



This information is considered the private property of those companies and to give this away free would compromise their source of income...

They make money by selling the info to commercial outlets, not selling people their own report.

Due to widespread errors in these systems and the impact incorrect data can have for a person, they're forced to give us access to confirm what's on our credit history.
You've tried to get erroneous information off your credit history, it's lilke pulling teeth.

Your credit score is somoething completely different, and yes you should be charged to get that.



...In fact, I would like to see these reports on a website that can be accessed by the specific person at any time so the information can be verified correct.....

See above. And don't be fooled by fake "free" credit sites.

[rybo]

well, I think you'll still be able to buy it from them directly.

www.experian.com

[Dietrich_R1]

One word... "monopolistic"!!!!!!!!