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Smart Shopper Credit Scores and Vehicle Financing
935 messages, Last post on Jul 28, 2009 at 1:12 PM
You are in the Smart Shopper Forum. Your Hosts are kirstie_h & tidester
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Replying to: nj2pa2nc (Apr 04, 2008 2:51 am) Some bureau co's have their own mickey mouse scores,which the banks don't use. See what your Auto score is.
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Replying to: volvomax (Apr 04, 2008 11:05 am) |
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Replying to: nj2pa2nc (Apr 04, 2008 2:51 am) 850 is the highest they go. |
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Replying to: nj2pa2nc (Apr 04, 2008 2:51 am) |
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Replying to: dapun (Apr 04, 2008 4:27 pm) In my opinion the entire credit scoring system is predatory and needs to be looked at. There is no rhyme or reason to it. Credit scores are nothing more then a license for banks to print money. |
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Replying to: dapun (Apr 04, 2008 4:27 pm) When I bought my house several years ago, I had scores like 820 and 799 on the other systems.
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Replying to: lemko (Apr 07, 2008 5:12 am) |
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Replying to: dapun (Apr 04, 2008 4:27 pm) link title " Experian does not sell the FICO score to consumers. Charges $15 for its report and its own Plus score. Also sells its own VantageScore, which evaluates consumers on a range from 501 to 990, for $5.95."
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Replying to: fordfool (Apr 07, 2008 4:30 pm)
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Replying to: joel0622 (Apr 11, 2008 10:59 am) Precisely, why share any part of the pie with Fair Isaac Company (FICO)? Years ago, before banks were allowed to have branches, lending was pretty much a local affair with each bank developing its own lending criteria. A Fayetteville, N.C. bank had an economist develop a formula for measuring loan risk. Homeowners were better risks than renters (to no one's surprise). But the best risks lived in trailer homes!  The bankers went back to the economist figuring that he had reversed the coding on the "home" variable. The economist investigated and found that the formula was correct. It seems that the trailer home resident-borrowers were primarily officers and non-coms from nearby Fort Bragg and Pope Air Force Base. And these officers and non-coms were very good credit risks. 
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