Experian FICO Score is No Longer Available

Until recently, you could obtain your FICO credit score from all three of the reporting companies (TransUnion, Experian and Equifax). But Experian has stopped releasing their FICO scores through the MyFICO.com website. But you can still get a credit score from that company -- it just won't be produced using the FICO scoring model.

Are you totally confused? Okay, here's what you need to know:

• Fair Isaac Corporation is the company that created the FICO credit scoring model. That's where the name comes from -- it's an acronym for Fair Isaac Corporation.
• Until recently, all three of the credit bureaus (TransUnion, Experian and Equifax) have used the FICO system to produce scores for consumers. And consumers were able to obtain all three of their FICO scores through the MyFICO.com website.
  
• Earlier this year, however, Experian told Fair Isaac that it wants to terminate their existing agreement, which means consumers will no longer have access to their Experian FICO scores through the MyFICO.com website.
• Mortgage lenders, however, will still be able to get all three of the FICO scores for a consumer in order to perform a credit check.
• As a consumer, there's really nothing you need to do and/or worry about, regarding this drama. Just keep using your credit responsibly, and you'll maintain a good score.
  

The Experian / FICO Drama - Don't Sweat It

This blog entry is for your general information only. There's really nothing you need to worry about. Nor do you need to change your financial or credit-related behavior in any way. Mortgage lenders and other creditors will still check your credit score as they always have. But you will no longer have access to your Experian FICO score anymore.

As a consumer, the only thing you need to be concerned with are your financial habits. If you practice good habits and use credit responsibly, you will maintain a good credit score with all three of the agencies, including Experian -- regardless of how they produce their scores or what they call them.