takeshi wrote:They've been gradually rolling it out for quite some time now.
It's still a FAKO. Allegedly used by some creditors but good luck figuring out who actually uses it.
It's supposedly used by lots of auto lenders. Also, of course, every score -- and I mean *EVERY* score -- you get is also a fake score, in that you don't, and can't, know what lenders are really using. Sophisticated lenders use multiple criteria, which include credit scores available from third parties, but also their own models, and lots of other factors. They don't have any obligation to tell you what they use, nor how they weight them. Figuring out which customers are going to be most profitable is a competitive advantage, and lenders don't tell anyone they don't have to what their methods are.
1) Under certain conditions, if they used at least one credit score as a basis for making a negative decision, they must inform you of one of those scores. But if they're using three, and they weight one of as being much less predictive than others, they can still tell you that one.