Last edited by Daphne; April 9th, 2010 at 05:56 PM.
Why do credit card companies and these "scorers" have so much power. Congress should pass a law regulating the use of these scores and limiting their power.
i don't know why people here are carping on the people who are profiled in the article. basically they are carrying minimal debt so have high FICO scores.
and the way i understand it, it isn't THESE people who triggered the mortgage debacle. it's lenders giving credit to people with poor credit histories and limited means to pay $$$ for housing they couldn't afford.
Thanks for that useful information! Debt is one of the major concern of the world's population and nations worldwide. Apparently, the traditional FICO credit rating does not think about those with restricted or no credit history. However, the new VantageScore 3.0 design, developed by the credit reporting bureaus Experian, Equifax and TransUnion, factors in option kinds of data to allow thousands credit who have been denied previously.
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