Experian Stops Offering FICO Credit Scores to Consumers

Fair Isaac has announced that as of February 14, 2009, the Experian credit bureau will stop offering FICO credit scores to consumers through the Fair Isaac consumer website myFICO.com or anywhere else for that matter.

Update on June 18, 2013: myFICO has once again reintroduced FICO Credit Scores from Experian to their suite of products, so you can now get your FICO scores from all 3 of the major credit reporting bureaus.

This means that lenders will still have access to your FICO credit scores from Experian, but you will no longer be able to monitor your Experian FICO score yourself.

Losing access to Experian FICO scores is a major blow to consumers who are at the mercy of the credit bureaus and the lenders that use the 3 FICO scores from Experian, Equifax, and TransUnion as a standard for measuring a borrower’s creditworthiness.

Consumers will still be able to purchase their FICO scores from Equifax and TransUnion through myFICO.com, but Experian FICO scores will no longer be available.

Experian does offer PLUS credit scores to consumers at Experian.com, but PLUS scores are pretty useless when you consider that the lenders only use your actual FICO scores when deciding whether to give you a loan.

Maybe Experian should consider only offering the PLUS score to lenders if they want to even the playing field, but it’s obvious by these actions that they don’t.

Of course, you can still get your Free Credit Reports from Experian, Equifax, and TransUnion as well as your FICO scores from Equifax and TransUnion, but your Experian FICO score will no longer be available as of February 14, 2009, unless you’re enrolled in a Fair Isaac Scores on Statements program through your bank account, or you obtain direct access through lending company sources.

This is really an unbelievable action on Experian’s part, and although they are not directly responsible, Fair Isaac and myFICO are complicit in these actions, and this could be a sign of more trouble to come if Equifax and TransUnion follow suit and no longer offer their FICO scores to consumers.

You might want to order your Experian FICO score at myFICO.com before they are no longer available on February 14, 2009.

It may be time for the federal government to step in and take actions on behalf of the American consumer, as it is inherently unfair that a measurement such as the FICO score, which is solely used in many cases to judge a consumer’s creditworthiness, is unavailable for that consumer’s own personal review.

Check out more details on Experian’s decision to remove their FICO credit scores in the myFICO.com Forum.

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