FICO Expansion Credit Score the new score on the block

**Meya** · November 8th, 2008, 06:42 PM

Hey!!!!!! That is something to think about!

I guess they found this idea from car makers who provide the tracking devices. This is probably how they are going to find out where we shop.

EVERYONE, LEAVE YOUR AMEX AT HOME IF YOU ARE GOING TO A BARGAIN STORE, THEY ARE MONITORING EVERY MOVE YOU MAKE.

Makes me feel like getting an amex and buring it by the white house until i get ready to use it. I wonder what would they think then

**Eldarwen** · November 9th, 2008, 08:45 AM

It doesn't come as a surprise with Amex. They seem to want to know everything. Some of it is rightfully so because it is their money. If they want my business, they are going to have to give me a CLI!

**Meya** · November 9th, 2008, 12:58 PM

What if they don't?

**hjm331** · November 9th, 2008, 03:39 PM

I will never waste another inquiry with AMEX again!

**Meya** · November 9th, 2008, 06:21 PM

Thanks for saving me!

**RivasGlo** · November 9th, 2008, 07:58 PM

and me!

**hjm331** · November 9th, 2008, 08:02 PM

No problem!

**wrknprogrs** · February 5th, 2009, 09:23 AM

http://www.nytimes.com/2009/02/05/yo...fico.html?_r=2

Apparently, the New York Times is on a roll with following the unpredictable and frightening moves in the credit industry. The latest involves Fair Isaac Co.’s announcement that it will no long sell Experian-based credit scores beginning on Feb. 14.

Fair Isaac Co. (FICO for short) created the FICO credit score, a method of determining the likelihood that credit users will pay their bills. Consumers have three FICO scores bases on information collected by the three largest credit bureaus including TransUnion and Equifax. Equifax’s FICO score is the most common score used, but some companies like American Express use Experian. The scores can differ by as much as one hundred points in some cases depending on the formula used. Experian cannot distribute its FICO scores to consumers directly or through other outlets. As Tom Quinn, vice president for scoring at Fair Isaac Co., put it, “their decision means that consumers will no longer be able to see or manage their scores based on the Experian data.” However, the article goes on to mention that “Experian itself will continue to sell FICO scores based on its data to lenders, so some banks may make credit decisions, at least in part, on a score that consumers can no longer see.” Moreover, Experian will likely push their own propriety three-digit credit score that does not use the FICO formula as a base.

In conclusion, this is a major setback for consumers who will be assessed based on information to which they will no longer have access. If anything, the game becomes more complicated with more formulas and proprietary ways to evaluate consumers.

Everybody is making changes that are making things "challenging" for consumers!!!!

http://www.nytimes.com/2009/02/05/yo...fico.html?_r=2

Wrknprogrs

**hjm331** · February 5th, 2009, 09:27 AM

I heard about this yesterday morning. I don't know what to say, we won't be able to buy our Experian FICO scores for quite some time and the funny thing is that they haven't mentioned why they're doing this.

I guess Experian wants us to buy their FAKO scores because they are the one that requested Fair Isaac to stop selling Experian FICO scores.