No More Scores

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Replied by Meya on topic Re: No More Scores

Consumers period!
10 years 8 months ago #1

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Replied by hjm331 on topic Re: No More Scores

You know that companies and banks would fall flat on their faces if it wasn't for us hard working consumers! :upset:
10 years 8 months ago #2

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Replied by Meya on topic Re: No More Scores

You can say that again.:white-flag:
10 years 8 months ago #3

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Replied by ColoNative on topic Re: No More Scores

Capitalism at work! :white-flag:
10 years 8 months ago #4

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Replied by Rockin35 on topic Re: No More Scores

What a wretched wicked mess!!! I think this is about capitalizing and making some type of profit/or financial gain in one way or another off consumers.

Rockin35!
10 years 8 months ago #5

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Replied by interjack on topic Re: No More Scores

Regardless of what Fair Issaac says about Experian not releasing reports for FICO scoring, the entire FICO is a sham. How many creditors actually use a FICO score that was derived from the Fair Issaac model? This goes against convential belief, but I think that the true FICO score is rarely used. I have never been denied for credit based on a FICO score. Usually a bank sends a denial letter saying that my credit score is too low and does not cite the algorithim used to generate the score.

Fair Issaac is just crying because people can't spend another $10 at their site.
10 years 8 months ago #6

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Replied by eugene66 on topic Re: No More Scores

it's all about the mighty dollar..........call me a simpleton but that is what i believe:innocent:
10 years 8 months ago #7

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Replied by interjack on topic Re: No More Scores

From what I understand, not all creditors use FICO. For instance my credit union uses Beacon. Another example is Amex. I have received a denial from them because I scored too low on their magically and proprietary score system.

Congress should create a scoring standard and make it mandatory that creditors use it as a standard model. Credit scores should also be free and should not be the propreitary score generated from a model developed from a private company.
10 years 8 months ago #8

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Replied by Brian23 on topic Re: No More Scores

You are absolutely correct. They want consumers to buy the FAKO Vantage score (which the lady referred to it in the article as the educational score). It's not that they couldnt come to an ammicable resolution with myfico, they didn't want too.

I tell you what. This is complete nonsense. The more the days pass by with the way the economy is now, its like everyday someone else (bank, credit bureau etc) is trying to pull fast ones on consumers.
10 years 8 months ago #9

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Replied by hjm331 on topic Re: No More Scores

It's the truth or else why did they start selling FICO scores in the first place?
10 years 8 months ago #10

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Replied by Meya on topic Re: No More Scores

Oooops! :shocked:
10 years 8 months ago #11

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Replied by hjm331 on topic Re: No More Scores

Experian is doing this to profit from their FAKO scores.
10 years 8 months ago #12

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Replied by Meya on topic Re: No More Scores

I agree! This is why I always told members here, that creditors have thier own methods on how they judge us by our credit. I have heard of us having something that we have never seen before, I was not aware of what it was. We learn something new everyday!
10 years 8 months ago #13

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Replied by rwmtd on topic Re: No More Scores

Wow, when I heard about this I could not believe it. When I read through the article it stated that Experian will give consumer's an "educational" score (whatever that means).

I had long since heard that there different scores are used for car buying that are not available to the consumer.

This is just wrong of Experian (they said that they couldn't come to an "agreement" with myfico).

This is just plain wrong :upset:
10 years 8 months ago #14

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Replied by Meya on topic Re: No More Scores

Did you read the part where they said that home loans are using another scoring factor that you don't know about? And the true fico scores are not coming from myfico?
10 years 8 months ago #15

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