I checked my credit score with Experian, but my mortgage broker told me that is not a real credit score. What does that mean?
One of the first things you will discover as you start your credit repair program is that there is only one credit score that matters and that is the FICO score. And all of our credit repair strategies are FICO score oriented. Anyway, the credit bureaus sell real FICO scores to lenders, but they will not sell FICO scores to consumers. Instead, they have developed their own proprietary scores. It is an unfortunate fact that people buy these bureau scores without understanding that these are different from the scores lenders will use, and may differ by over 100 points.
At this time, if you would like to purchase your FICO scores you may do so at MyFICO.com the website for Fair Isaac Corporation, the creator of the FICO score. But there is a catch; you can only buy two of your three scores as Experian has stopped participating in the Fair Isaac offering. If you want to benchmark your credit repair progress with all three scores you could contact a friendly mortgage broker or other lender to see if they will share the information.
FICO UPDATE August 2013
FICO is now offering all three bureau scores (including the previously excluded Experian score) via their MyFICO.com website.
FICO UPDATE August 2016
Real FICO scores for all three bureaus are now available from Experian and a number of Experian affiliated sites which sell three-bureau reports.