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February 20th, 2009

Experian Cuts off Consumer Access to FICO Scores

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Why did Experian, one of the “big three” credit bureaus, decide to cut consumers off from accessing their FICO score? While details remain quite thin, the credit bureau decided to do so late last week. The only reason why that I have found so far is what CBS5.com’s Sue Kwon called “a behind-the-scenes battle between Experian and myFico.com.” Consumers may still access their FICO scores through the other two bureaus Equifax and TransUnion.

Experts insist that consumers should continue to pull their credit reports from all three bureaus once a year:

The only place to do that is www.AnnualCreditReport.com. Your scores, which are not free, are based on the information in those reports. The reports basically detail all your credit lines and whether you’re paying them on time.

From CBS5.com:

Consumers Union advocacy group said Consumers should retrieve credit reports from all three agencies including Experian and check them all for accuracy. And if you’re buying a house, ask your lender to tell you what your FICO score is from Experian and the other credit bureaus just in case they vary widely. If your Experian Fico Score is low, that could be the one your lender is basing your loan off of.

From a marketing standpoint, why would  a credit bureau chose to limit their services to consumers, especially when so many depend on the results of their score?

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2 Responses to “Experian Cuts off Consumer Access to FICO Scores”

  1. Unbiased Report Available Free Says: March 16th, 2009 at 12:46 pm

    [...] Experian Cuts off Consumer Access to FICO Scores (hsh.com) [...]

  2. Choosing the Best Credit Repair Service | Online Credit Card Service Says: June 21st, 2009 at 11:31 am

    [...] Experian Cuts off Consumer Access to FICO Scores (hsh.com) [...]

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HSH.com's daily blog focuses on the latest developments in the mortgage and housing markets. Our mission is to relate how changes in mortgage rates and housing policy, as well as the latest financial news, impacts consumers, homebuyers and industry insiders alike. Our 30-plus years of experience in the mortgage industry gives us an edge as we break down the latest changes in an ever-changing market.

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Tim Manni

Tim Manni is the Managing Editor of HSH.com and the author of their daily blog, which concentrates on the latest developments in the mortgage and housing markets.

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