The LA Times is reporting that Experian will stop selling FICO scores to individual consumers. FICO is used by the majority of lenders to determine the credit-worthiness of customers. Many financial advisors recommend getting your three FICO scores before negotiating loan terms for large items, such as a home or automobile.
Experian will continue to sell its propritary PLUS score, as well as VantageScore, which it developed with TransUnion and Equifax. Some people close to the industry believe that Experian is trying to force more utilization fo the PLUS score by keeping FICO out of the hands of consumers. Commercial customers will still be able to get the FICO score from Experian.
Today is the last day that a FICO score can be purchased from Experian.
Posted under News
Written by Matt on February 13, 2009
I’m outraged! This is terrible! I’m not big on government interference, but this is one of those times that the gov needs to step in and say “you can’t do that.”
I can’t believe I can’t obtain my own FICO score. What do they have to hide? What are they trying to pull?
I found a petition online dealing with Experian. It turns out they’ve been the subject of a great deal of disputes with regard to shady business practices and changing the records of individuals who challenge the legitimacy of the information contained in their credit reports which affect their FICO scores.
I posted about it here -http://moneysaver101.blogspot.com/2009/02/want-your-fico-score-sorry-you-cant.html
Again, thanks for the heads up. I contacted my Congressman.
Thanks for the heads up on the petition.