Lita Epstein
Feb 5th 2009 at 12:30PM
At a time when it's so important for consumers to monitor their credit scores, Experian, one of the three credit reporting agencies, has decided consumers are not entitled to see their FICO scores based on their Experian credit file. I did call Experian's press office for a comment, but have not yet received a call back.
Federal law only requires that the credit reporting agencies make your credit file available, there is no law stating that you must have access to your credit score before applying for a loan.
Beginning on February 13, you will only be able to get Equifax and TransUnion credit scores on myFICO.com. When you go to myFICO you'll see a banner headline about the cutoff by Experian. According to the notice on myFICO's discussion boards, Fair Isaac says, "It is important to understand the majority of lenders will continue to use FICO scores based on Experian data to make creditworthiness decisions, but those FICO scores based on Experian data will not be available via http://www.myFICO.com, nor any other public venue."
Fair Isaac, goes on to tell lenders, "Fair Issac is dedicated to offering FICO Scores to financial institutions via all three of our bureau partners to provide the most independent and fair representation of a consumer's credit picture. . .To meet consumers' credit empowerment demands, Fair Isaac will continue to offer both Equifax and TransUnion credit management services through our myFICO.com website."
More/Source: http://snipurl.com/bf28i
