Fair Isaac To Expand And Change FICO Scoring Algorithm - GoFuckYourself.com

KRL · 08-17-2004, 06:06 AM

Fair Isaac creator of the FICO credit scoring process has determined that over 50 Million Americans are operating with solid payment historys but in the non-credit world and they are now restructuring the entire process of determining FICO scores.

The new algorithm will consider non-traditional payment histories as part of your FICO.

So for example people who live in apartments and rent on time will now be able to have that recorded in their master file and be on the same league credit wise and someone paying an equivalent amount but for a regular mortgage.

They are even going to be including payday loan histories for immigrants who operate completely in the cash world.

Even people who prefer not having any credit card debt and only use debit cards instead of credit cards will now be able to add their card management histories into their scores.

This step is designed to make credit scoring more fair to the entire
population.

Veterans Day · 08-17-2004, 06:13 AM

oh yay more C and D loans comin down the pipe, thats good for us in the biz

VirtuMike · 08-17-2004, 07:06 AM

So the man is not going to keep us down anymore?

08-17-2004, 06:06 AM	#1
KRL Entrepreneur Join Date: Oct 2002 Location: USA Posts: 31,429	Fair Isaac To Expand And Change FICO Scoring Algorithm Fair Isaac creator of the FICO credit scoring process has determined that over 50 Million Americans are operating with solid payment historys but in the non-credit world and they are now restructuring the entire process of determining FICO scores. The new algorithm will consider non-traditional payment histories as part of your FICO. So for example people who live in apartments and rent on time will now be able to have that recorded in their master file and be on the same league credit wise and someone paying an equivalent amount but for a regular mortgage. They are even going to be including payday loan histories for immigrants who operate completely in the cash world. Even people who prefer not having any credit card debt and only use debit cards instead of credit cards will now be able to add their card management histories into their scores. This step is designed to make credit scoring more fair to the entire population.

08-17-2004, 06:13 AM	#2
Veterans Day Confirmed User Join Date: Jul 2003 Location: The Windy City Posts: 8,403	oh yay more C and D loans comin down the pipe, thats good for us in the biz __________________ Build a Massive Traffic Network, Hands FREE, Totally Automated

08-17-2004, 07:06 AM	#3
VirtuMike Confirmed User Join Date: May 2002 Location: Seat 1A Posts: 2,483	So the man is not going to keep us down anymore? __________________ Host it in AMSTERDAM at EUROTIVITY! - We also offer BACKUP SERVICES! XYZZY4L