Major credit agencies adopt uniform credit score system

[wyvrn]

Originally posted by: amdforever2
There already is a uniform scoring system and fico is it.

Beacon, Empirica, are all just branded names for FICO.



Fico = facial tissue.

Beacon = kleenex.

Ahh got it. Thanks 🙂

 

[Viper GTS]

Originally posted by: amdforever2
There already is a uniform scoring system and fico is it.

Beacon, Empirica, are all just branded names for FICO.



Fico = facial tissue.

Beacon = kleenex.

That is 100% incorrect.

Viper GTS

 

[Dunbar]

Originally posted by: Queasy
How is high volume lenders paying $2 per score any different than say Dell paying $5 for a CD drive while everyday consumers pay $30? The credit bureaus are charging what the market will bear.

Credit reports are now pretty much a commodity product especially since consumers are given at least one free credit report a year now. They have to make money somewhere and providing credit scores and credit monitoring for consumers are a couple of the ways they do that.

You're basically saying you think it's a fair price and I disagree. The problem with your analogy is there's a lot more competition in the computer hardware business which keeps prices low. With only 3 bureau's I don't think there's much competition. I believe you are entitled to a free credit report every year which does not include a score.

Think about it this way, if I have good credit, but I want to check my credit scores once a year, I have spend $45 a year.