COSTA MESA, Calif.,
Dec. 29, 2014 /PRNewswire/ --
Experian® now offers its members FICO® Scores
through its direct-to-consumer products, providing access to the
credit scores lenders use most when determining applicant
eligibility for new credit cards, car loans, mortgages or other
lines of credit. The FICO® Score is front and center as
the first in a series of new product enhancements that will be
integrated over the next 18 months.
"Our members asked for the credit score they recognize as being
most relevant," said Guy Abramo,
president of Experian Consumer Services. "FICO Scores are used by
lenders more than any other credit score, and we now offer them to
our members as a complement to the Experian credit reports and
other credit resources that are part of our consumer products."
In addition to the FICO® Score, key product
features and enhancements include:
- Score Factors — explain the top
factors that affect an individual's FICO® Score.
- Credit Timeline — displays a record of
alerts sent when something happens to change a credit score.
- Experian Credit Report — membership
includes access to one's full Experian credit report, available at
every login. Credit reports provide the payment history and account
details that are used to calculate FICO® Scores.
- Identity Fraud Assistance — if a
member is a victim of identity fraud, a trained Fraud Resolution
Agent will help resolve credit report issues created by the
incident.
- "Real" people — Experian customer care
representatives are ready to talk with members who may have credit
or product upgrade questions.
- Flexible access — members can get
their FICO® Scores, resources and
educational content wherever they may be, on any web-enabled
device.
"This is a big win for the consumer," said Jim Wehmann, executive vice president, Scores
for FICO. "The combination of FICO Scores and Experian's consumer
products gives a significant benefit to anyone looking to better
understand their credit and its impact on their financial
goals."
FICO® Scores, which fall within a 300-850 score
range, are used in 90 percent of credit decisions. FICO®
Scores assess the information in a person's credit report at a
particular point in time. Lenders use these scores to estimate a
person's credit risk — how likely one is to pay credit obligations
as agreed. FICO® Scores can influence the credit limit,
interest rate, loan amount, rewards programs, balance-transfer
rates and other terms that lenders will offer a person, if those
lenders base their decisions on a FICO® Score.
For more information, please visit http://www.experian.com.
About Experian Consumer Services
The Experian Consumer Services division provides credit monitoring
and other informational products, such as identity protection, to
millions of consumers via the Internet. The organization enables
consumers to monitor their credit reports online, check their
credit scores and protect against identity theft. Its products
include Experian Credit Tracker(SM) and
ProtectMyID®.
Experian Consumer Services has established integrated,
co-branded relationships with leading online financial destinations
that provide consumers with a broad range of comprehensive online
financial products and information essential to managing one's
financial life. For more information, visit
http://www.experian.com.
This press release is provided for general guidance and
information. It is not intended as, nor should it be construed to
be legal, financial or other professional advice. Please consult
with your attorney or financial adviser to discuss any legal issues
or financial issues involved with credit decisions.
About FICO
FICO is a leading analytics software company, helping businesses in
90+ countries make better decisions that drive higher levels of
growth, profitability and customer satisfaction. The company's
ground-breaking use of Big Data and mathematical algorithms to
predict consumer behavior has transformed entire industries. FICO
provides analytics software and tools used across multiple
industries to manage risk, fight fraud, build more profitable
customer relationships, optimize operations and meet strict
government regulations. Many of our products reach industry-wide
adoption. These include the FICO® Score, the standard
measure of consumer credit risk in the
United States. The ground-breaking FICO® Score
Open Access program makes millions of FICO Scores available free to
consumers. FICO solutions leverage open-source standards and cloud
computing to maximize flexibility, speed deployment and reduce
costs. The company also helps millions of people manage their
personal financial health. FICO: Make every decision
count™. Learn more at www.fico.com.
About Experian
We are the leading global information services company, providing
data and analytical tools to our clients around the world. We help
businesses to manage credit risk, prevent fraud, target marketing
offers and automate decision making. We also help people to check
their credit report and credit score, and protect against identity
theft. In 2014, we were named by Forbes Magazine as one of the
'World's Most Innovative Companies'.
We employ approximately 16,000 people in 39 countries and our
corporate headquarters are in Dublin,
Ireland, with operational headquarters in Nottingham, UK; California, US; and São Paulo, Brazil.
Experian plc is listed on the London Stock Exchange (EXPN) and
is a constituent of the FTSE 100 index. Total revenue for the year
ended March 31, 2014, was
US$4.8 billion.
To find out more about our company, please visit
http://www.experianplc.com or watch our documentary, Inside
Experian.
For more information, visit http://www.experianplc.com.
Experian and the Experian marks used herein are trademarks or
registered trademarks of Experian Information Solutions, Inc. Other
product and company names mentioned herein are the property of
their respective owners.
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SOURCE Experian
