Why are FICO scores so expensive?

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agp
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Postby agp » Tue Jun 05, 2012 6:52 pm

MemberSince99 wrote:Amex CreditSecure has one plan (not the 14.95 plan but the 24.95 one) that allows you unlimited pulls of your reports once per day.


I didn't see a 24.95 on their website. Is 24.95 the monthly fee after your first month of trial?

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DavidNY
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Postby DavidNY » Tue Jun 05, 2012 7:21 pm

You can get your TU FICO free if you have a Walmart credit card. Walmart Credit Card Users: FREE Fico Scores are a... - myFICO® Forums

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Postby NYC_Dweller » Tue Jun 05, 2012 7:24 pm

JMK wrote:What is the most secure and accurate fico score tracker these days that is somewhat affordable monthly? I used to have freecreditreport.com's system back in college.


FICO scores are only available on myFICO. All other scores are considered to be "FAKO" (inaccurate scores or less popular score providers).

DavidNY
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Postby DavidNY » Tue Jun 05, 2012 7:35 pm

I found my TU FAKO from Creditkarma was pretty accurate when I compared it to a FICO score last month. I don't think it's worth paying for it.

tinninches
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Postby tinninches » Wed Jun 06, 2012 5:46 am

Ya guys, remember you can only obtain a TRUE FICO score from EQ and TU from MyFico website. You can only obtain your EX score through a Pennsylvania Credit Union, lender pull, or Amex if declined for a CC or not given the best financing (ie $200 or $500 CL on the Zync)

Any other Credit Monitoring Service (CMS) will not provide you with REAL scores, only FAKO scores. Sometimes the FAKO scores can be as much as 100 points higher or lower than your FICO.

I subscribe to two services through MyFico as well as the CMS via USAA. I can pull all 3 reports through USAA each day, for free (think the service is $15/mo)

tl;dr

Do not buy your FAKO scores from any other site (to inlcude, but not limited too Experian, TransUnion, Equifax, or even Amex) than MyFICO, so as to get REAL TRUE FICO scores.
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jeffysdad
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Postby jeffysdad » Wed Jun 06, 2012 9:29 am

Don't pay for FICO, just get a Fako score for free; it's a good approximation. If you must have a FICO score, apply for a mortgage and they'll tell you what your scores are during the process for free. You don't have to take the loan but it will ding your credit report for a bit. The sale of credit scores is a scam.
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tinninches
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Postby tinninches » Wed Jun 06, 2012 11:06 am

jeffysdad wrote:Don't pay for FICO, just get a Fako score for free; it's a good approximation. If you must have a FICO score, apply for a mortgage and they'll tell you what your scores are during the process for free. You don't have to take the loan but it will ding your credit report for a bit. The sale of credit scores is a scam.


All a matter of opinion, I suppose.

I would agree the sale of FAKO scores, is a scam, while the sale of true FICO scores, albeit pricey, are at least accurate while the former is far from an approximation - and any similarity is merely an illusion of coincidence.
[size=80]Amex Zync[/size]

[size=80]Amex PRG[/size]

Amex Costco TE

Amex Hilton

Amex Delta Gold

Barclay US Airways World MC

Chase SWA Signature

BOA Spirit World MC

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MemberSince99
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Postby MemberSince99 » Wed Jun 06, 2012 11:20 am

agp wrote:I didn't see a 24.95 on their website. Is 24.95 the monthly fee after your first month of trial?


Yeah I didn't see the link either I had to google for it, something like CreditSecure Unlimited I believe, which gave me a link, I could not find it from their site either. I don't know if that means they'd prefer we did not get it but if that's true why did they let me sign up for it....beats me why it's not easier to find. They do seem to push the 14.95 one.

agp
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Postby agp » Wed Jun 06, 2012 1:34 pm

https://www295.americanexpress.com/premium/credit-secure-unlimited/home.do#04

This gives you credit REPORTS from all 3 bureaus, or just credit SCORES? and I read their agreement thing, but just to confirm - there's no minimum required length of subscription?

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MemberSince99
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Postby MemberSince99 » Wed Jun 06, 2012 3:16 pm

agp wrote:https://www295.americanexpress.com/premium/credit-secure-unlimited/home.do#04

This gives you credit REPORTS from all 3 bureaus, or just credit SCORES? and I read their agreement thing, but just to confirm - there's no minimum required length of subscription?


No you can cancel anytime you like.



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