/ Register

Credit Score Article.

Discussion in 'Credit Talk' started by Jim, Jul 1, 2001.

  1. Jul 1, 2001 #1
    Jim

    Jim Well-Known Member

    In today's Orange County Register there is an article titled:

    "You can get your credit score". This article is aimed at a California audience. It reminds us that the new CA. state law pertaining to credit score availability went into effect today. EX, EQ and TU are all discussed.

    Here is an excerpt from the article that I found interesting. You can make your own interpretation:

    "What is likely to stump consumers receiving their scores from credit agencies is that no two scores for an individual are alike.

    The majority of lending institutions rely on the FICO score, which uses a range of 300 - 850, with the highest score being the best. Equifax uses the FICO score, but Experian utilizes its own calculation that gives a score from 340 to 820, and TransUnion's range is drastically different, from 150 to 950."

    Jim
     
  3. Jul 1, 2001 #2
    Lionel

    Lionel Well-Known Member

  4. Jul 1, 2001 #3
    Rob

    Rob Active Member

    Jim, that was a good find, thanks

    * Rob *
     
  5. Jul 1, 2001 #4
    Jim

    Jim Well-Known Member

    Thanks guys!!

    I thought it was interesting that a "660" might mean different things according to which CRA ws pulled.

    Jim
     
  6. Jul 2, 2001 #5
    G. Fisher

    G. Fisher Banned

    It would be good for those from California to give their experiences with the new (mandated) score service.

    Queston One: Is Trans Union using the name "EMPIRICA" or "FICO" to describe the score Californians get? Is Experian using the name "Experian/Fair, Isaac Risk Model" or "FICO"?

    Question Two: Are the scores Californians can get different from the scores the rest of the country can get?
     
  7. Jul 2, 2001 #6
    Lionel

    Lionel Well-Known Member

    #1 - I haven't rec'd my TU report yet, just ordered it last Friday. Experian calls theirs the Experian Credit Score; which they view as different than Fair Isaac/FICO (that's noted in one of their Credit Mgr FAQ sections.)


    #2 - I strongly doubt it. The article was just letting us know that as of July 1, there are no secrets ;-)
     
  8. Jul 3, 2001 #7
    PsychDoc

    PsychDoc Well-Known Member

  9. Jul 3, 2001 #8
    Jim

    Jim Well-Known Member

    I regard to Lionel's response to Greg Fisher's 2 questions...

    I totally agree with Lionel. I am a Creditexpert subscriber and nowhere do they use the word FICO.

    I doubt that Californians are seeing anything different than the rest of the country.
     
  10. Jul 3, 2001 #9
    jonesing

    jonesing Well-Known Member

    TransUnion score is available

    I read the article and was curious about TransUnion. They were the last of the Big 3 to offer scores so I was wondering if they were going to make their scores available to Californians only (in which case it's time for me to move back home ;-) or if they would make them available to everyone.

    Everyone is the answer
    http://www.tuc.com/Personal/ConsumerScores.asp
     
  11. Jul 3, 2001 #10
    Jim

    Jim Well-Known Member

    Re: TransUnion score is available

    Thanks Jonesing!

    I am sure a few other people wondered this too.

    Jim
     

Share This Page