Will the changes in fico affect our business? - GoFuckYourself.com

tony286 · 02-26-2008, 04:41 PM

I was wondering,once the changing to fico hits in may and peoples scores start dropping and their cc interest rates start getting stupid. Will that slow do people taking out a cc to buy something online?

quesadilla · 02-26-2008, 04:43 PM

fico scores are supposed to go up not down.

tony286 · 02-26-2008, 05:03 PM

Quote:

Originally Posted by quesadilla

fico scores are supposed to go up not down.

They are adding a big penalty for people who are using more than 50% of their available credit.That's going to hurt more then it helps.

ADL Colin · 02-26-2008, 05:32 PM

I was under the impression that it could go either way. Just depends on your credit mix and usage habits.

Peaches · 02-26-2008, 05:39 PM

Quote:

Originally Posted by ADL Colin

I was under the impression that it could go either way. Just depends on your credit mix and usage habits.

Correct. The biggest change I see is getting rid of the "piggybacking". I'm a member of a P2P lending site and see this all the time. For example, a young college student will have A grade credit and their first line of credit started in 1980. Start asking questions and it seems the kid has NO credit, let alone A grade. Obviously they are an authorized user on someone else's account and if you're only looking at the FICO score, you wouldn't see that.

It's been my understanding that you've ALWAYS been dinged for using up too much of your available credit. I know my score just went down 29 points just because I got another $15K credit card even though I have zero in CC debt. It's all a game.

BlockThree · 02-26-2008, 05:56 PM

no way, when people are depressed they rack up more credit, and they look at more porn. a bad economy, bad credit, all good for perverted minds.

MandyBlake · 02-26-2008, 07:28 PM

more than likely but i hope not.

AlienQ - BANNED FOR LIFE · 02-26-2008, 07:30 PM

Cant people keep one credit card and keep it at Zero anymore?

Guess not.

Fat Panda · 02-26-2008, 07:35 PM

credit cards will keep on chinging

02-26-2008, 04:41 PM	#1
tony286 lurker Industry Role: Join Date: Aug 2002 Location: atlanta Posts: 57,021	Will the changes in fico affect our business? I was wondering,once the changing to fico hits in may and peoples scores start dropping and their cc interest rates start getting stupid. Will that slow do people taking out a cc to buy something online?

02-26-2008, 05:32 PM	#4
ADL Colin Too lazy to set a custom title Join Date: Feb 2001 Location: Tube Titans, USA Posts: 11,929	I was under the impression that it could go either way. Just depends on your credit mix and usage habits. __________________ Adult Date Link - $50 PPS starting NOW! -- good and JUICY! skype = "adultdatelink"

02-26-2008, 07:28 PM	#7
MandyBlake The one and only! Industry Role: Join Date: Nov 2002 Location: Atlanta, GA Posts: 17,761	more than likely but i hope not. __________________ Mandy's Playhouse Her First Fat Girl If you're interested in promoting my sites, ICQ me! 178411921

02-26-2008, 07:30 PM	#8
AlienQ - BANNED FOR LIFE best designer on GFY Join Date: Mar 2003 Location: IALIEN.COM - High Definition Video and Photographic Productions -ICQ 78943384 Posts: 30,307	Cant people keep one credit card and keep it at Zero anymore? Guess not. __________________ NAKED HOSTING FTW!11 I'm On The INSANE PLAN $9.95/mo! \| The Alien Blog Adult News Worth Reading Updated Daily \| Content For Sale! 641 PICS 216 MINUTES OF VIDEO $350.00 \|ICQ: 78943384 \|

02-26-2008, 04:43 PM	#2
quesadilla Confirmed User Join Date: Oct 2007 Posts: 360	fico scores are supposed to go up not down.

02-26-2008, 05:56 PM	#6
BlockThree Confirmed User Join Date: Jan 2008 Location: Hill Valley, CA Posts: 121	no way, when people are depressed they rack up more credit, and they look at more porn. a bad economy, bad credit, all good for perverted minds.

02-26-2008, 07:35 PM	#9
Fat Panda Porn is Dead. Move along. Industry Role: Join Date: Aug 2006 Posts: 13,295	credit cards will keep on chinging