I’m going to contact my representatives in the U.S. House and Senate and pressure them to write and pass new legislation requiring Experian to provide scores to those willing to pay for them — if what they’ve done isn’t illegal already, we can work to make it illegal. (The legislation should require this, in fact, from all three agencies — what’s to stop the other two, as it stands right now, from trying to do the same thing?) I’ll also ask that they include provisions that the three credit reporting agencies provide Americans with free annual scores, as well as free annual credit reports.

And since I was at myFICO’s website today, wanting to purchase my three reports and scores, I may as wel contact them, by phone and e-mail, and let them know that I won’t be doing business with them anymore either, since their products no longer can provide me with a complete and accurate picture of my credit standing. You know damn well that if they realize they’re going to start losing money, they might ramp up their own lobbying to put pressure on Congress to do something about Experian.

I’m mad as hell and I’m not going to take it anymore.

Hmmm…I think you posted this particular comment on the wrong blog post. Are you referring to one my later posts reviewing the top personal finance books?

But you are correct when pointing out that Experian executives themselves would never dare make any significant risk based credit decisions without having before them all necessary data. Some have even suggested that this is all a giant conspiracy between Experian and its major lending partners to withhold this key Experian FICO score data from consumers to skew loan and mortgage negotiations against consumers in favor of big businesses…but it’s probably just one of those random theories..

I really hope Experian reconsiders and ultimately decides to work something out with MyFICO…

I am also a FICO freak. And it really bothers me that now I can only make educated financial decisions with access to only 66% of the available data. I’m sure Experian’s executives will not dare to make any money-risk decision with less than 80% data, yet we only have 66%.

By the way, Experian is a company based in Dublin, IRELAND. It has offices in the US, but main HQ is in Europe. Not a US company, not bound to follow US laws? Gray area here??????

More likely than not, the move was a marketing ploy to either force MyFICO to consent to more reasonable commission terms in the use of its FICO scores, or a long term plan on the part of Experian to push forward its own credit score products to supplant the current monopoly that FICO scores enjoy.

Yeah, but either way, their decision to stop offering Experian FICO’s to consumers but continue to let businesses have access to them really sucks.