Soon consumers will only be able to see two out of the three credit scores lenders use to judge their credit worthiness. Out of nowhere, Experian announced it will no longer be selling its version of the FICO score through myFICO.com.
Neither company said why the move was made. Two data points come to mind.One, the credit bureaus real customers have never been consumers but lenders. Two, the bureaus mind having to pay FICO to use its scoring technology and have been trying to develop and market their own versions of credit scores, although FICO is really the only one with broad adoption. It’s unclear how they tie in but they seem to be relevant. Perhaps some kind of cost-saving measure or the end-game in a licensing scuffle.
The cutoff date is February 14th, so stock up now if you were planning on getting your Valentine a comprehensive credit score package.