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Experian Denies Consumers Access to Credit Scores

As of Valentine's Day, Fair Issac (the company behind FICO scores) will no longer receive love from Experian. The FICO website has allowed consumers to purchase their three scores from all three credit bureaus, and Experian's decision means you will only be able to buy your TransUnion and Equifax scores. It also means that banks will be making decisions based partially on a score that we can't see.

Tom Quinn, vice president for scoring at Fair Isaac, commented, "We are surprised that Experian made such a decision, particularly given what’s going on in the national economy and with consumers being concerned about their credit standing." While your Experian score won't be visible to you after Feb. 14, you can periodically check your credit report issued by the credit bureau to make sure there are no errors.


Join The Conversation
ylovely ylovely 8 years
You can get your credit info from the government for free once a year and REALLY not be charged.
wackdoodle wackdoodle 8 years
You can obtain your FICO score directly from Fair Isaac by paying for it. The fact the the big 3 bureaus started charaging residents of certain states a fee to obtain their credti report seems to coincide with when they began their arrangment with Fair Isaac to include the FICO on reports. In other words the reason CA residents play Experian $7 for a credit report may have been because Experian was passing along the fee the Fair Isaac charged them or that both Experian and Fair Isaac saw charging a fee for something that was really suppose to be free and is free for some states -as a way to make a profit off consumers.
wackdoodle wackdoodle 8 years
First it should be known that Fair Issac is not a government agency it is a private company that is influenced by the directly banking industry and who has critieria for determining your FICO that are not full disclosed to either the consumer or other agencies who are bound by the FCRA. It should be known that Fair Isaac also have several famous financial advisers on their payroll - like Susie Orman as among them (ever wonder why they push getting over FICO over actually getting your objective credit report? Fair Isaac pays them to push their product.) Fair Isaac is not regulated by the any government agency. The do not abide by the FCRA. The ways in which they determine your FICO are proprietary and they will not disclose all of the factors they take into consideration in doing so. Which actually goes against the FCRA. What many disagree with is that a consumer can have a stellar credit report - no delinquencies, no over limits, and a debit to income ratio that is low and yet they can for some reason have a very low FICO score. Why? Only Fair Isaac knows. And it should be known that Fair Isaac's true customers are the credit card industry and lending institutions. It is thought by many that Fair Isaac is using many criteria to create a FICO score that if stated would be found to be illegal because they are sexually or racially discriminatory. Second - Experian was through a financial arrangement providing information to Fair Isaac in return for receiving the FICO to place on their files. However, Experian refused to use the same subjective criteria that Fair Isaac uses to determine your FICO on their credit report info. FCRA requires that credit reports be objection and contain only factual information for which proof via documentation etc can be provided to consumers who challenge the validity of their report. Because of Fair Isaacs subjective decisions on why people get the FICO they get when it may conflict with the information listed on the consumers credit report Experian opted to drop its affiliation with Fair Isaac as Experian has a legal obligation to remain objective. Lenders can always obtain a person's FICO directly from Fair Isaac but it was easier to just pull the combo report and have it listed there right or wrong. And as I previously stated the FICO score criteria are in opposition to the FCRA because they are subjective and possibly discriminatory in nature. If Experian has dropped FICO then more than likely TransUnion and Equifax will follow. And possibly lenders and others will return to basing credit and lending decisions on the objective info on the credit report rather than the subjective info of FICO.
carhornsinapril carhornsinapril 8 years
well, that's not fair.
prettywarrior prettywarrior 8 years
How is this legal? They're going to deny me access to information about myself?
ilanac13 ilanac13 8 years
i think that this is wrong. is there more information on why they are changing the policy? i feel like it's somewhat unfair to say that we won't be able to get a full picture of things. 2 out of 3 is good but not good enough, seeing as how we'll be rated somewhat on the 3rd.
aimeeb aimeeb 8 years
Whaaaaaaaaat???!!! I think this is just stupid. I wonder what made them decide on doing this. Savvy are we still able to get our one free yearly credit report from them before 2/14? I've always run my credit report with each of them since it's free once a year.
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