Experian Ends Partnership with Fair Isaac

Discussion in 'Credit Talk' started by JoshuaHeckathorn, Feb 10, 2009.

  1. JoshuaHeckathorn

    JoshuaHeckathorn Administrator

  2. jlynn

    jlynn Well-Known Member

    Experian is suing Fair Isaac.
  3. JoshuaHeckathorn

    JoshuaHeckathorn Administrator

    For what? I haven't heard about it.
  4. jjgross

    jjgross Well-Known Member

    Their going to quit giving it to consumers,but still give it to banks and lender's.What we will get is a number pulled out of a hat according to new's reports.So screwed again again and again.All consumers want is a fair deal which is not that hard to give.Bank's forget it's our money their using and abusing.
  5. JoshuaHeckathorn

    JoshuaHeckathorn Administrator

    I know...that's what I blogged about in the article I linked to above.

    What I was asking jlynn is why she said Experian has sued Fair Isaac? I haven't seen or heard any reports of that as of yet. If they have, I was wondering on what grounds? Of course, as I mentioned in the blog post, Fair Isaac sued all 3 credit bureaus over the VantageScore in 2006 and that fight still continues.
  6. SandyEgan

    SandyEgan Member

    Q: What change is currently taking place between Experian and myFICO?
    A: Fair Isaac Corporation has received notification from Experian of its decision to terminate the agreement which allows the distribution of FICO® Scores and Experian reports from myFICO.

    Q: When will myFICO stop offering Experian FICO® scores and credit reports to consumers?
    A: After February 13, 2009, Experian FICO® scores and credit reports will no longer be available through myFICO.

    Q: What myFICO products contain Experian FICO® scores and credit reports?
    A: There are three myFICO products that include Experian FICO® scores and credit reports:

    * Suze Ormanâ??s FICO® Kit
    * FICO® Credit Complete
    * FICO® Standard

    Q: I recently bought Experian reports and scores from myFICO. Will I continue to be able to view this information after Experian products are no longer available for purchase?
    A: Yes. The products youâ??ve purchased will continue to be viewable through your myFICO account according to the original product specifications:

    * Suze Orman's FICO® Kit -- viewable until the Kit expires
    * FICO® Credit Complete/FICO® Standard -- viewable for 30 days after purchase

    Q: Who made the decision to terminate this agreement between Fair Isaac (myFICO) and Experian?
    A: Experian made this decision and notified Fair Isaac Corporation.

    Q: Why did Experian make this decision?
    A: Their reasons are not clear to us at this time and we do not believe it appropriate to speculate.

    Q: What web sites currently offer the Experian FICO® score?
    A: Currently, myFICO is the only web site that provides consumer access to Experian FICO® scores.

    Q: Doesnâ??t Experian offer the FICO® score on its own web site?
    A: No. While Experian offers its own scores (not developed by Fair Isaac) to consumers, it does not provide FICO® credit scores.

    Q: After they are no longer available from myFICO, where will I be able to obtain my Experian FICO® score?
    A: As a consequence of Experianâ??s decision, after February 13, 2009, there will be no authorized distributor of FICO® scores based on Experian data to U.S. consumers. This means that consumers will no longer have access to those FICO® scores.

    Q: What can consumers do to get their Experian FICO® scores after they are no longer available from myFICO?
    A: At this time we know of no plans by Experian to make FICO® scores available to consumers.

    Q: I currently receive my Experian FICO® score free each month from my bank on my online statement. Will I continue to receive these scores?
    A: Yes. We are not aware of any move by Experian to discontinue their participation in this valuable program for consumers.

    Q: Will lenders continue to use FICO® scores?
    A: Yes. Experian will continue to work with Fair Isaac to provide lenders with the FICO® scores they use in their lending decisions.

    Q: Arenâ??t I entitled to a free FICO® score from each bureau every year?
    A: Currently, the law (FACTA) provides free annual credit reports from all three credit bureaus to consumers -- but not credit scores.

    Q: Are the other bureaus likely to terminate their agreements with myFICO at this time?
    A: We have contracts with Equifax and TransUnion that ensure the continued availability of FICO® scores to consumers.
  7. jjgross

    jjgross Well-Known Member


    I belong to 3 different credit watch bureaus.None of the scores are the same.Not even close i know there's different model's but when you have a 50 point difference that's not kosher there has to be a scoring model that should apply across the board.How can a lender make a loan with such a wide swing?
  8. sparq

    sparq Well-Known Member

    Puh - you think that's bad, my actual Equifax FICO is 617. My TrueCredit Fako for Equifax is 509.
  9. jlynn

    jlynn Well-Known Member

    I'm trying to find it again...

Share This Page