According to Credit.com Experian sent a letter to MyFICO that could terminate their six year relationship. If this happens it could be disastrous for consumers who manage their credit because they would lose access to one of their credit scores provided by MyFICO.
If the two companies do not reach a compromise by February 14th, 2009, consumers will lose all access to their FICO scores from Experian. However, Experian will continue to provide their scores to Fair Issac so lenders and other businesses who use the score as a determination of a consumer’s credit worthiness.
This is the second threat made by Experian to terminate the contract. Managing your credit is hard enough by credit bureau standards, and taking away the ability to access credit scores could be detrimental to consumers.
Experian will continue to profit by selling their PLUS Score to consumers but we will have no access to our FICO score based on Experian’s data.
This is yet another blow to consumers in this volatile economic time in our countries history.
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yes I do agree with you. This is another blow to us in this volatile economic situation.