Why don’t free credit reports give you your credit score?
Author: admin
25
Jun
tl asked:
I’ve gone to get my credit report online through experian but its telling me I have to pay for the actual score. I don’t understand why.
because there is a difference between the credit report and the FICO score. You are allowed free access to your credit report once a year to make sure the items are correct and that someone isn’t stealing your identity. If however, you want your score, you need to pay for it, since it is intellectual property.
The reason is simple. By law, you are entitled to a free credit report. However, you are not entitled to the calculation of your credit score. The idea is that you should be able to review all information in your credit report for accuracy, etc., but the actual calculation is a profitable business. Also, your score isn’t the same in each company. Experian will give you one score, while another company might give you a slightly different score based on their own calculations, so it’s not a set number, either.
The law states that you are entitled to a free credit report once a year or if you were denied credit.
The law does not state anywhere that the credit bureaus have to give you your credit score. That you have to pay for and that is what people really want anyway.
The credit bureaus are not “non profit organizations.” They are profit motive companies. And this is one way they make money.
Thats their trick on luwerung you to their site so they can get you the infomation you wanted but thecatch is if you want the most important thing that you wanted in the first place is the creidit score and yet they want you to pay for it, but theires another way on getting your creidit score with out paying for it , and thats when you apply for a visa, master, american Express card, and they say your creidts not good enough to quaifiy for their card and thats when they send you that notice say sorry we cant help you at this time as your creited isn’t good enought, and in the letter that they send you there should be a statement on there letter or a serprate pice of paper the states that you are allow to get a onr time free full creit report if you write to the address that is in one of the letters, so write to the place that they offer you and that company will send you a one time only free full credit report with all the information that you always wanted and will need in the furture. try it because by law they have to give you tha chance to find out the reason why they turned you down….. it does work if you so it!. best of luck and hopr it’s a great creidet score that you needed. Hope this help you because it does work. Just remember you can only do this once in your life time, ok
11 Responses for "Why don’t free credit reports give you your credit score?"
They have to make money somehow!
Hate to break it to you, but it’s a business, and that’s what they do. Get your money.
its a business so its not going to do it for free
because there is a difference between the credit report and the FICO score. You are allowed free access to your credit report once a year to make sure the items are correct and that someone isn’t stealing your identity. If however, you want your score, you need to pay for it, since it is intellectual property.
Actually they should or do. Mine did. What “free” agency did you go through.
You shouldn’t get it done through them.
is REQUIRED to give everyone 1 free credit report a year. Anything more than that, you will have to pay for.
Sorry, don’t know for sure. My guess is they have to give you the report for free, so they want you to buy something. Your Score.
The reason is simple. By law, you are entitled to a free credit report. However, you are not entitled to the calculation of your credit score. The idea is that you should be able to review all information in your credit report for accuracy, etc., but the actual calculation is a profitable business. Also, your score isn’t the same in each company. Experian will give you one score, while another company might give you a slightly different score based on their own calculations, so it’s not a set number, either.
So you got suckered into a TV commercial too.
The law states that you are entitled to a free credit report once a year or if you were denied credit.
The law does not state anywhere that the credit bureaus have to give you your credit score. That you have to pay for and that is what people really want anyway.
The credit bureaus are not “non profit organizations.” They are profit motive companies. And this is one way they make money.
Because the FICO scoring system is proprietary and they want to make money.
Thats their trick on luwerung you to their site so they can get you the infomation you wanted but thecatch is if you want the most important thing that you wanted in the first place is the creidit score and yet they want you to pay for it, but theires another way on getting your creidit score with out paying for it , and thats when you apply for a visa, master, american Express card, and they say your creidts not good enough to quaifiy for their card and thats when they send you that notice say sorry we cant help you at this time as your creited isn’t good enought, and in the letter that they send you there should be a statement on there letter or a serprate pice of paper the states that you are allow to get a onr time free full creit report if you write to the address that is in one of the letters, so write to the place that they offer you and that company will send you a one time only free full credit report with all the information that you always wanted and will need in the furture. try it because by law they have to give you tha chance to find out the reason why they turned you down….. it does work if you so it!. best of luck and hopr it’s a great creidet score that you needed. Hope this help you because it does work. Just remember you can only do this once in your life time, ok
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