Re: How fair is FICO now? article link

On Feb 2, 5:11 pm, seeker <mothman20052...@xxxxxxxxx> wrote:
http://biz.yahoo.com/zacks/090130/17101.html?.v=1

In my opinion, not very fair

It looks fair to me.

The problem is everyone seems to thinkthe FICO score should completely
determine credit. Also people think they should know exactly how it
is calculated so they can get the highest score possible. FICO is
just one of the "Five Cs" that a good underwriter should be looking
at. And they should also look at a score and then look at the detail
and see if something is driving it off what is expected, for good or
for bad.

Pay your bills on time, don't overextend, and don't "churn" accounts
and you will be fine. But you should not expect to get a loan for
that $50K BMW when you make $30K/y. However, half this country thinks
that is how it is supposed to work.

Fair-Issac has marketed the "score system" well, though-I give them
that.
.