The credit bureau said the score will be available at no cost indefinitely, and if it ever does, the price will be at least 50% lower than what Honest Isaac Corp. (FICO) charges fees for its credit scores.
“Experian’s pricing reflects that the primary value is in the data, not the score,” the company said in a statement.
Competition among credit score providers has increased since then Federal Agency for Housing Financing (FHFA) approved Fannie Mae And Freddie Mac to purchase loans underwritten with VantageScore 4.0 as an alternative to the long-used Classic FICO score.
VantageScore is jointly owned by the three national credit bureaus: Equifax, TransUnion and Experian. In response to increased competition, FICO recently introduced a new pricing model for its credit scores, selling them directly through tri-merge resellers.
Equifax was the first agency to adjust its structure, announcing that it will offer VantageScore 4.0 for $4.50 per score through the end of 2027, but free in 2025 and 2026 for mortgage, auto, credit card and consumer finance customers who also purchase FICO Scores during that period.
“Experian is committed to fostering a more competitive mortgage landscape, creating a safer and healthier marketplace, and expanding access to homeownership to a broader group of consumers,” Experian CEO Brian Cassin said in a statement.
The company noted that VantageScore 4.0 is fully available in its Ascend Analytical Sandbox, which supports the modeling and analytics needs of lenders. Lenders can also use Experian’s Cashflow Score and Cashflow Attributes tools, which the company says can improve risk assessments with an increase in predictive performance of up to 25% by providing deeper insights into consumers’ financial behavior.
“True to our culture of innovation, this latest step offers lenders choice and flexibility while promoting fair and affordable access to finance for more consumers,” Cassin said.
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