MyFICO

Initial Business Response /* (1000, 8, 2015/05/19) */
In regards to Mrs. [redacted]'s complaint, we believe myFICO plainly and comprehensively discloses both the terms and substance of the product and we disagree with Mrs. [redacted]'s allegations that FICO has somehow misled her.

After...

further consideration, we have applied a full refund of $24.95 was applied on 05/19/15.
We have taken Mrs. [redacted]'s complaints seriously and forwarded them to our product and marketing teams for consideration. We appreciate her feedback and continuously strive to improve our myFICO products and website to improve the consumer experience.
If there are any further questions or concerns regarding this matter, I hope Mrs. [redacted] will not hesitate to contact me directly.
[redacted]
Customer Care Manager - myFICO
[redacted]@fico.com
Initial Consumer Rebuttal /* (2000, 10, 2015/05/20) */
(The consumer indicated he/she ACCEPTED the response from the business.)

Initial Business Response /* (1000, 5, 2014/04/01) */
We regret the difficulty experienced Mr. [redacted] encountered when he attempted to cancel his Score Watch Subscription. After further research, our records indicate Mr. [redacted] contacted our customer service department on 3/24/14 to cancel...

his subscription. This subscription currently reflects cancelled.
We also take our customers opinion into consideration and appreciate the feedback. I can assure him I have shared his concerns with the MyFICO Marketing Team.
If there are any further questions or concerns regarding this matter, I hope Mr. [redacted] will not hesitate to contact me directly.
[redacted]
Customer Care Manager - myFICO
[redacted]@fico.com

Thank you for your correspondence. We are taking this opportunity to respond to the inquiry made by [redacted] concerning her MyFico service.[redacted] is not a member in our system and her complaint appears to be directed to MyFico which is a company that is not connected to our organization. Our...

company, [redacted] Inc is not related to MyFico and we have no ability to take actions on [redacted]'s complaint. We suggest that [redacted] contact MyFico directly to address her concerns.If [redacted] has any questions or needs further assistance she can contact our customer service department at ###-###-####. Our hours of operation are from 8AM Est-11PM Monday-Friday and 9AM-5PM on Saturday's.As always, we strive to provide the highest level of security and service to all of our customers and potential customers.Sincerely,Aisha M[redacted]

Initial Business Response /* (1000, 10, 2015/02/24) */
In regards to Mrs. [redacted]'s complaint, we believe FICO plainly and comprehensively discloses both the terms and substance of the product and we disagree with Mrs. [redacted]'s allegations that FICO has somehow misled consumers.
After...

further consideration, we have a applied a full refund of $64.71 was applied on 02/22/15.
We have taken Mrs. [redacted] complaints seriously and forwarded them to our product and marketing teams for consideration. We appreciate her feedback and continuously strive to improve our myFICO products and website to improve the consumer experience.
If there are any further questions or concerns regarding this matter, I hope Mrs. [redacted]'s will not hesitate to contact me directly.
[redacted]
Customer Care Manager - myFICO
[redacted]@fico.com

Initial Business Response /* (1000, 5, 2014/03/25) */
In regards to the inaccurate information reflecting on Mrs. [redacted] credit report. Mrs. [redacted] has incorrectly directed her inquiry regarding the inaccurate items from her credit reports to FICO. Instead, it should be sent to the 3...

national consumer reporting agencies:
While FICO (Fair Isaac Corporation) developed the FICO(r) credit scoring formulas, it does not determine the content of your credit report. Each of the three national credit bureaus - Equifax, TransUnion and Experian - collect and maintain the information in your credit reports. They each use that information and our scoring formula to calculate your FICO score.

It is important to understand that:
The information in your credit report determines your FICO score
Only your creditors and the credit bureaus can make the changes needed to accurately reflect your credit history
If you find information on your credit report that is not accurate or doesn't belong to you, please contact the credit bureau which produced the report.

Experian
Online: www.experian.com/rs/fi4.html
Equifax (www.equifax.com)
P.O. Box XXXXXX
[redacted] XXXXX-XXXX
X-XXX-XXX-XXXX
Phone: X-XXX-XXX-XXXX
Mail:
TransUnion Disputes
[redacted], PA XXXXX
Phone: X-XXX-XXX-XXXX
Online:http://www.transunion.com/corporate/personal/creditDisputes.pagebr />
For mailed-in disputes, please be specific regarding your dispute of an account ("not mine", "paid in full", etc.). Include any documentation that may help prove the information that you believe is correct. It is especially helpful to send photocopies of your social security card and driver's license for name updates. It is also recommended that any request for an address update include a current utility bill in your name or driver's license showing the correct address
Investigations into credit report information accuracy are conducted by the credit reporting agencies. A good way to begin this process is to obtain free credit reports at www.annualcreditreport.com, and to follow the instructions that come with these reports for disputing inaccurate information.
I hope Mrs. [redacted] is able to resolve this matter to her satisfaction. If she has any further concerns regarding this matter, she should not hesitate to contact me directly.
[redacted]
Customer Care Manager - myFICO
[redacted]@fico.com
o

Thank you for your correspondence. We are taking this opportunity to respond to the inquiry made by --Christopher M[redacted] regarding his MyFico acount.MyFico is not a service that is offered or managed by our company, [redacted]. Due to this complaint being made for a service that is not...

associated with our company, we respectfully request that this complaint be removed from our file.As always, we strive to provide the highest level of security and service to all of our customers. If [redacted] should need any further assistance, we can be reached at ###-###-####. Thank you for the opportunity to be of service.Sincerely,

Initial Business Response /* (1000, 8, 2015/05/15) */
We regret the difficult experience Mr. [redacted] encountered when he attempted to request a refund for his FICO(r) Score 3 Report View. Although we acknowledge receipt of Mr. [redacted] complaint with respect to the online cancel...

process.
We have taken Mr. [redacted] complaints seriously and forwarded them to our product and marketing teams for consideration. We appreciate his feedback and continuously strive to improve our myFICO products and website to improve the consumer experience. In addition a full refund for the amount of $24.95 was applied to his account on May 06,2015.
If there are any further questions or concerns regarding this matter, I hope Mr. [redacted] will not hesitate to contact me directly.
[redacted]
Customer Care Manager - myFICO
[redacted]@fico.com
Initial Consumer Rebuttal /* (2000, 10, 2015/05/27) */
(The consumer indicated he/she ACCEPTED the response from the business.)

Initial Business Response /* (1000, 5, 2014/10/06) */
We understand you received a complaint from [redacted] relating to his purchase of the FICO(r) 3-Bureau Credit Monitoring product. Although we acknowledge receipt of Mr. [redacted] complaint with respect to this product, we believe FICO...

plainly and comprehensively discloses both the terms and substance of the product and we disagree with Mr. [redacted] allegations that FICO has somehow misled consumers.
FICO provides a substantial amount of information for consumers to help them understand the FICO 3-Bureau Monitoring product. The FICO 3-Bureau Monitoring information web page, available at http://www.myfico.com/Products/FICO-3-Bureau-Credit-Monitoring/, clearly describes both the subscription terms and the substance of the product. As to the subscription terms, FICO makes clear on the pages describing the product (including the purchase page) that this is a subscription-based product with a three-month minimum term. As to the substance of the FICO 3-Bureau Monitoring product, FICO delivers the product as described on the product information page. To be clear, FICO never promises that the product will provide identical alerts across the three credit bureaus (as Mr. Hill apparently believes it should) because each bureau has different alert triggers, which FICO cannot control. FICO also does not promise that the product will refresh the consumer's FICO(r) Score for each bureau daily. Instead, the product monitors the consumer's credit reports daily and provides triggered alerts as well as an updated score with each report, as is stated plainly on the product information page:
"When we become aware of a change to any of your Experian, Equifax or TransUnion credit reports or FICO(r) Scores from any of the three bureaus, we'll alert you within 24 hours via email or text. Plus, you can customize your score alerts for Equifax credit data so that you get notified when you reach a specific score.
Your 3-bureau alerts will notify you when we detect:
FICO Score changes
New accounts
Account changes
Inquiries, collections and public records
Name, address and phone changes
Alerts unavailable for account balance changes in TransUnion credit reports.
Alerts for account balance changes in Experian credit reports are triggered by a change of 5% or more."
The landing page for the FICO 3-Bureau Credit Monitoring product, available at http://www.myfico.com/lp/SEMXXXXXX.aspx, likewise makes clear what the product does. In addition to providing general information and links to more detailed information, the landing page states: "When we detect a change to any of your three credit reports or FICO Scores, we'll alert you within 24 hours via email, text or iOS app." Accordingly, FICO believes it provides consumers with sufficient information regarding the FICO 3-Bureau Credit Monitoring product to enable them to make an informed purchasing decision.
Finally, as Mr. [redacted] notes, FICO is aware of consumer feedback on the myFICO forum relating to the FICO 3-Bureau Credit Monitoring product. However, contrary to Mr. Hill's claim that FICO has attempted to deceive consumers, FICO provides a substantial amount of information and explanation on its forum to assist consumers, available at http://ficoforums.myfico.com/t5/myFICO-Product-Feedback/FICO-3-Bureau-Credit-Mon...⇄ Among other things, this in-depth discussion of the FICO 3-Bureau Credit Monitoring product includes FAQs, alert charts and details, and illustrative examples.
Although (for the reasons set forth above) FICO vigorously denies that it has done anything to mislead consumers with respect to the FICO 3-Bureau Credit Monitoring product, we have taken Mr. Hill's complaints seriously and forwarded them to our product and marketing teams for consideration. We appreciate his feedback and continuously strive to improve our myFICO products and website to improve the consumer experience.
Initial Consumer Rebuttal /* (3000, 7, 2014/10/07) */
(The consumer indicated he/she DID NOT accept the response from the business.)
In the past 7 days, I have received Transunion alerts from Credit Karma,USAA and BarclayCard, all resulting in score changes. Apparently, myFico missed the bus again.Furthermore, they acknowledge the feedback on their forums, but not the quanity and substance of complaints. Just in this past week, the forums are full of instances where users are experiencing the same issues I describe above. Several key changes in their reports with no alerts received. I cannot remember the last time a company so vigorously refused refunds of $19.95.
Final Business Response /* (4000, 16, 2014/10/30) */
FICO has reviewed the additional details provided by Mr. [redacted] relating to this matter. Although we continue to dispute his allegation that the FICO(r) 3-Bureau Credit Monitoring product does not perform as advertised and we believe FICO provides consumers with ample information regarding the product, FICO is committed to customer service and believes an amicable resolution is in the best interest of all parties. Accordingly, FICO has refunded Mr. [redacted]'s purchase price and terminated his subscription for the FICO(r) 3-Bureau Credit Monitoring product as requested. In addition, as a further gesture of goodwill, FICO has provided Mr. [redacted] with a coupon permitting him to receive one FICO Score 3-Report View at no charge. FICO appreciates consumer feedback and strives to provide a positive experience for its customers.
Final Consumer Response /* (2000, 18, 2014/10/31) */
(The consumer indicated he/she ACCEPTED the response from the business.)
A very nice person called me from myFico this week and informed me that my subscription was cancelled and all of my money was refunded. I am pleased with the outcome.

Initial Business Response /* (1000, 5, 2014/03/25) */
We regret the difficulty experienced Mr. [redacted] has encountered when he attempted to obtain his FICO Score and credit reports. After further research it was determined Mr. [redacted] has created two accounts with different user names and...

different SSN. Rest assures that we have taken the appropriate actions to ensure only one account remains active with the correct information. In addition the reports that were ordered under the account with the incorrect social security number, these reports were not delivered and the charges were cancelled and returned back to the merchant. We've also noticed Mr. [redacted] has successfully placed 3 orders under the correct account and all three reports were delivered and viewed by Mr. [redacted].
We feel confident this issue has been resolved to ensure Mr. [redacted] can continue using our products and services with no issues. Should there be any further concerns regarding this matter, I would encourage Mr. [redacted] to contact me directly.
[redacted]
Customer Care Manager - myFICO
[redacted]@fico.com

Initial Business Response /* (1000, 15, 2014/08/13) */
Mr. [redacted] purchased a Score Watch 10-day Free Trial on August 30, 2013. To complete this purchase Mr. [redacted] agreed to terms and conditions which described his right to cancel within the 10-day period, and if no request to cancel was...

received he agreed to be billed $14.95/month with a required 3-month minimum. We received his first call inquiring about the monthly payments on June 13, 2014.

We regret that Mr. [redacted] was not aware of the 3 month minimum subscription required for Score Watch when not canceled within the 10 day free trial period, and that he didn't call to cancel until after 10 months had passed. As a courtesy, we previously refunded three payments of $16.28 on June 30, 2014 and ensured the subscription was cancelled, so that no further charges will be incurred.

Under normal circumstances we wouldn't refund the 3 month's payments based on the minimum term agreed to. However, we also regret that our response to Mr. [redacted]'s follow-up questions has been delayed. As an added courtesy for any inconvenience this may have caused, we will issue the full remaining refund of $113.96.


If there are any further questions or concerns regarding this matter, I hope Mr. [redacted] will not hesitate to contact me directly.
[redacted]
Customer Care Manager - myFICO
[redacted]@fico.com
Initial Consumer Rebuttal /* (3000, 17, 2014/08/17) */
(The consumer indicated he/she DID NOT accept the response from the business.)
I thank you so much for your response and your understanding. The only thing is that I was refunded for 6 months, not the seventh. The amount you indicated was correct for seven months but that is not what I got. Please check again and refund that final month. I do appreciate it.
Final Business Response /* (4000, 19, 2014/08/20) */
We apologize for the oversight. The additional refund has been processed...

Initial Business Response /* (1000, 9, 2014/10/06) */
We acknowledge receipt of Mr. [redacted] complaint with respect to the 3 month minimum requirements, we believe FICO plainly and comprehensively disclosed the terms and substance of the product and we disagree with Mr. [redacted] allegations that...

FICO has somehow misled consumers.
FICO vigorously denies that it has done anything to mislead consumers with respect to the 3 month minimum requirements; we have taken Mr. [redacted] complaint seriously and forwarded them to our product and marketing teams for consideration.
We appreciate his feedback and continuously strive to improve our myFICO products and website to improve the consumer experience. We have also set a future cancellation date for November 13, 2014 to ensure Mr. [redacted] does not further charges.
Initial Consumer Rebuttal /* (3000, 11, 2014/10/07) */
(The consumer indicated he/she DID NOT accept the response from the business.)
All I wanted was a cancellation from the company. The compromise from the company is requiring me to instead of do 90 days, do 60 days? Ludicrous. I asked to cancel the service 5 minutes after I received it. For 5 minutes this company wants 60 days of commitment. The webpage is misleading due to basic html coding. The fine print is coded as a floating string on the webpage that loads physically after the continue button. What that means to the average consumer is they see the button that says continue/finalize the transaction before they see any fine print load. In my case the continue button loaded which I clicked then the fine print loaded post clicking continue and realizing my mistake contacted the company. Only for them to in layman's terms tell me "tough luck sir you have to do this for 90 days". That's a terrible way of doing business.

Initial Business Response /* (1000, 8, 2014/10/31) */
We acknowledge receipt of Ms. [redacted] complaint with respect to the FICO 3 - Bureau Credit Monitoring, 3 month minimum requirement and the FICO Score being the standard credit score in the US, used in more than 90% of lending decisions. ...

We believe FICO plainly and comprehensively disclosed the terms and substance of the product and we disagree with Ms. [redacted] allegations that FICO has somehow misled consumers.
FICO is committed to customer satisfaction. In this particular case, even though Ms. [redacted] requested to cancel prior to meeting the 3 month minimum period, as a courtesy, her subscription has been cancelled and a full refund $ 43.20 has been applied.

We appreciate her feedback and continuously strive to improve our myFICO products and website to improve the consumer experience.
If there are any further questions or concerns regarding this matter, I hope Ms. [redacted] will not hesitate to contact me directly.
[redacted]
Customer Care Manager - myFICO
[redacted]@fico.com
Initial Consumer Rebuttal /* (2000, 10, 2014/11/03) */
(The consumer indicated he/she ACCEPTED the response from the business.)
I was granted a refund

Initial Business Response /* (1000, 8, 2014/12/03) */
We regret the difficult experience Mr. [redacted] encountered when he attempted to request a refund for his FICO(r) Standard - Equifax Report. We have applied a refund of $5.99 for the difference of the product and honored the promo code....

The promo code used for this transaction is used for the Score Watch Subscription and not valid for single use standard reports, which caused the overcharge of the product.
FICO is committed to the satisfaction of its customers. We frequently review our order and cancellation process in light of customer feedback with the goal of continually improving our customers' online experience, and we will continue to do so. We hope this answers any questions you have regarding this matter.
If there are any further questions or concerns regarding this matter, I hope Mr. [redacted] will not hesitate to contact me directly.
[redacted]
Customer Care Manager - myFICO
[redacted]@fico.com

I purchased the Ultimate 3B Credit Score Tracking package and had a terrible experience. First, only two of the scores updated. I was told [redacted] was slower so I paid $1 for the score from [redacted] to find it had updated a week before. I asked for a refund, MyFico said they never give refunds - score still didn't update. So I tried to cancel my account. They make you call to cancel your account and you first have to verify every personal piece of information you've ever shared. I asked why there isn't an online option to cancel your account and was told there is but it's located under "I have a billing question" and then you type that you want to cancel and it takes a few days to process. This is a design to purposefully confuse the customer and make it difficult to cancel so you end up paying more. The lack of transparency is a blatant attempt to get you confused long enough so the billing cycle can automatically charge another payment.
[redacted] product didn't work and they make cancelling nearly impossible. Do NOT support!

Initial Business Response /* (1000, 8, 2014/03/24) */
We regret the difficulty Mr. [redacted] has encountered. Unfortunately with the information provided we were unable to locate an account.
Please have Mr. [redacted] contact me directly so I can further assist with locating the account and...

resolving this matter.

[redacted]
Customer Care Manager - myFICO
XXX-XXX-XXXX
[redacted]@fico.com

Initial Business Response /* (1000, 5, 2015/11/24) */
We regret the difficult experience Mr. [redacted] encountered when he attempted to access his FICO Score 1B report. An email was sent to the customer advising him that we were unable to confirm his identity during the purchase process and is...

required to contact customer care to verify his identity. Once this process is completed the credit reports are released. Because Mr. [redacted] failed to contact customer care to verify his identity we have cancelled the order and reversed the charges.
myFICO is committed to the satisfaction of its customers. We frequently review our order process in light of customer feedback with the goal of continually improving our customers' online experience and we will continue to do so. We hope this answers any questions you have regarding this matter
If there are any further questions or concerns regarding this matter, I hope Mr. [redacted] will not hesitate to contact me directly.
[redacted]
Customer Care Manager - myFICO
[redacted]@fico.com
Initial Consumer Rebuttal /* (2000, 7, 2015/11/25) */
(The consumer indicated he/she ACCEPTED the response from the business.)

Initial Business Response /* (1000, 5, 2015/07/13) */
We regret the difficult experience Mr. [redacted] encountered when he attempted to request a refund for his FICO Identity Ultimate. After further research it was determined that Mr. [redacted] called in on 4/22 at 12:05pm to cancel his...

subscription. At that point the subscription had renewed on 4/22 at 5:32am. Because Mr. [redacted] was not aware of his subscription renewing prior to calling to cancel the subscription, we have applied a refund of $29.95 on July 13, 2015.
myFICO is committed to the satisfaction of its customers. We frequently review our order process in light of customer feedback with the goal of continually improving our customers' online experience and we will continue to do so.
We hope this answers any questions you have regarding this matter. If there are any further questions or concerns regarding this matter, I hope Mr. [redacted] will not hesitate to contact me directly.
[redacted]
Customer Care Manager - myFICO
[redacted]@fico.com
Initial Consumer Rebuttal /* (3000, 7, 2015/07/14) */
(The consumer indicated he/she DID NOT accept the response from the business.)
When this transaction was first noticed, I did contact customer service directly and was told "too bad, I should have canceled the day before" even though on the initial call made to cancel-they assured me that there would be no further transactions. This caused me to dispute the transaction thru my bank.
Furthermore- The account that was used to pay for this service has been closed for some time because of this dispute has been "in investigation" for months with seemingly no resolution. I considered this an authorized transaction. It caused a chain of events that dropped my confidence level with my financial institution. It was only after a number of months that I made this Revdex.com complaint.
I made contact with them today and they say that there hasn't been any credits that they are aware of and confirmed that the account is closed. Is there another way to receive this refund?
When I actually receive the refund for this canceled account, I will accept this. Thank You
Final Business Response /* (4000, 9, 2015/08/03) */
As mentioned before a refund request for this order was sent on: July 13, 2015, 14:34 GMT-06:00
(Refund amount requested: 29.95 USD - Finalized.
Mr. [redacted] also mentions the account is under investigation for further research. Mr. [redacted] should consider following up with the Financial Institution and have them research the account for the refund that was applied. Also the refund was processed on July 13, 2015. This process can take up to 3-5 business days to reflect on the account.
Unfortunetly because the refund was processed and received by the financial institution we are not able to process a separate refund.
We hope this answers any questions you have regarding this matter. If there are any further questions or concerns regarding this matter, I hope Mr. [redacted] will not hesitate to contact me directly.
[redacted]
Customer Care Manager - myFICO
[redacted]@fico.com

Final Consumer Response /* (2000, 11, 2015/08/04) */
(The consumer indicated he/she ACCEPTED the response from the business.)
A check from the financial institution was received yesterday 8/3/2015 although on the phone they said they did not see anything.
Thank You.

Initial Business Response /* (1000, 8, 2014/10/22) */
On review of Mr. [redacted]'s complaint, FICO does not believe the Georgia law referenced therein applies to this transaction. Nonetheless, as a gesture of good will and with no admission of fault, FICO will cancel Mr. [redacted]'s contract and...

refund his money.
As Mr. [redacted] notes, Georgia law does provide a three-day "cooling off" period for certain types of consumer transactions. However, the statute only applies in limited circumstances; a contract may be cancelled if:
1. It involves the sale, lease or rental of goods or services for personal, family or household use; and
2. It is a written agreement between two or more parties, listing all details of the agreement and signed by all parties; and
3. The commitment totals $25.00 or more, including interest, mailing charges and any other charges related to the agreement; and
4. It was entered into at a place that is not the regular place of business of the merchant, such as your home, a consumer product party, a seminar sales program or a hotel room.
http://consumer.georgia.gov/consumer-topics/canceling-a-contract. Notably, the statute does not apply if the contract was "entered into at the merchant's regular place of business," or "made entirely by mail or telephone." Id.
The breadth of literature relating to this statute suggests that it is intended to protect consumers against invasive "hard sell" tactics initiated by a seller (for example, door-to-door solicitation), not against transactions initiated entirely by a consumer. In fact, FICO is not aware of any authority holding that the statute applies to an online transaction initiated by a consumer on a merchant's primary sales website, as is the case here: Mr. [redacted] sought out the myFICO.com website, sought out the product information and order page for the FICO(r) Score Watch product on the myFICO website, and then placed his order. In other words, Mr. [redacted] actively pursued the transaction and myFICO passively accepted his order and provided him with the product he ordered, exactly as described on the product information and purchase pages. Accordingly, FICO does not believe this is the type of transaction contemplated by the Georgia law at issue.
Nonetheless, FICO acknowledges Mr. [redacted]'s complaint and, as a gesture of good will (and without admitting fault or obligation) will cancel his contract and refund his purchase price. We appreciate consumer feedback and use it to improve our online consumer experience.
If there are any further questions or concerns regarding this matter, I hope Mr. [redacted] will not hesitate to contact me directly.
[redacted]
Customer Care Manager - myFICO
[redacted]@fico.com

Initial Business Response /* (1000, 8, 2014/11/03) */
In regards to Mr. [redacted]'s complaint, we believe FICO plainly and comprehensively discloses both the terms and substance of the product and we disagree with Mr. [redacted]'s allegations that FICO has somehow misled consumers.

In this...

particular case, Mr. [redacted] called in on 10/14/14 requesting to cancel the product because he was not happy with the purchase. After further explanation, the product was cancelled and a full refund of $4.95 was applied on 10/14/14.
We have taken Mr. [redacted]'s complaints seriously and forwarded them to our product and marketing teams for consideration. We appreciate his feedback and continuously strive to improve our myFICO products and website to improve the consumer experience.
If there are any further questions or concerns regarding this matter, I hope Mr. [redacted] will not hesitate to contact me directly.
[redacted]
Customer Care Manager - myFICO
[redacted]@fico.com

Initial Business Response /* (4000, 11, 2014/05/14) */
In response to a complaint filed by [redacted]. Ms. [redacted] alleges that FICO, via its myFICO consumer division, is inaccurately reporting two of her accounts being paid on reduced payment plans as having a negative "red flag"...

indicator, which is improperly driving down her FICO(r) Score. FICO has investigated this matter and concluded that Ms. [redacted]'s FICO Score was generated based on the information available in her credit reports
FICO Scores are generated by algorithms that FICO developed using anonymous credit bureau data reported to credit bureaus (such as TransUnion) by data furnishers (lenders such as Younomics). FICO Scores present an assessment of credit risk based on objective factors in the credit data that have been proven to correlate with such risk without making any assumptions or subjective consideration about those factors. These objective factors include credit data and codes associated with the data (such as "partial payment agreement" codes) as provided by the data furnishers. For example, the FICO algorithm does not consider why a partial or reduced payment agreement may have occurred; rather, it treats any such agreement as a negative indicator because FICO's analysis shows that credit reports with the presence of a "partial payment agreement" code that is designated by a data furnisher represents a greater degree of credit risk. Accordingly, the modification of Ms. [redacted]'s Younomics loans, as contained in her TransUnion credit report, was objectively interpreted by the FICO credit scoring algorithm as a negative indicator based on the data (including the partial payment agreement code) as furnished by Younomics to TransUnion.
In this case, information about Ms. [redacted]'s Younomics loans, and all other data that populates the FICO scoring algorithm, was reported to TransUnion by Younomics and other data furnishers, as described above. TransUnion used this information to create Ms. [redacted]'s credit report, which was then used in the FICO algorithm to calculate a FICO Score and to generate much of the content displayed in the myFICO product (including the red flags and other indicators). As a result, because Younomics reported to TransUnion that Ms. [redacted]'s Younomics loans was being paid under a partial payment agreement, and TransUnion made a similar designation in the TransUnion credit report based on such data provided from Younomics, those accounts were in turn designated with a red flag indicator in her myFICO product. FICO does not and cannot control how loans are reported by a data furnisher or credit bureau, which is the sole determinant of whether such loans are given a red flag in a myFICO product.
Customer satisfaction is very important to FICO, and FICO continually reviews its products and customer feedback to help improve our products and provide the best experience possible to our valued customers. To this end, we are in the process of implementing site enhancements and product improvements to help drive a better overall customer experience and further customer satisfaction. As part of our product enhancements, we are targeting various ways to help improve how the credit report in formation and other content, including red flags and other indicators, is presented to our customers within the myFICO products. Ms. [redacted]'s comments and feedback regarding the display of credit report information are much appreciated, and will certainly help in this regard.
If there are any further questions or concerns regarding this matter, I hope Ms. [redacted] will not hesitate to contact me directly.
[redacted]
Customer Care Manager - myFICO
[redacted]@fico.com