That's proof of something (but not of your statement).

Posted by Greg Fisher on June 09, 1999 at 22:23:13:

In Reply to: My Reference: Fair Isaac posted by Sean on June 08, 1999 at 12:36:19:

You stated, "If you want a FICO of 680 you need 10 good credit references for every one bad."

Nothing in the subsequent reference you quoted from Fair, Isaac states anything about the number of accounts. Their reference is to numbers of people, not numbers of accounts. Indeed, the very number of accounts one has affects the score (and it could be negatively, a point made extensively on creditscoring.com). There is no logic to your statement. Also, the quote you used uses the word "hypothetically."

You stated, "Similar logic will tell you that if you need a score of 710 you will need 20 performing loans for every non-performing loan on your credit report. This is extremely difficult to do and your best shot of getting 710+ is to have NO non-performing loans on your report at all." You contradict yourself. Which one is it: one or none?

You stated, "The source you site (creditscoring.com) is notorious for spreading poor information and for slanting everything it has to say against scoring. It claims that scoring is discriminatory, that it punishes people for shopping for credit, etc."

I searched the page http://creditscoring.com for the sequence of letters "discrim" and came up with three hits... all merely titles of and links to those pages of those titles on other sites. Bayhouse.com (the host of this message board) is one of them (page title: "FICO Discrimination" (http://www.bayhouse.com/FICO-discrimination.html)-- statement in red letters on the page: "FICO Credit Scoring DISCRIMINATES")).

Are you blasting the host, too?

The other page links are both to the same site: bankrate.com.

I searched the creditscoring.com index page for the string "bias," and it produced one hit: the name of an article on the California Association of Realtors web site, a quote from that article, and a link to the page.

Inquiries on a credit report from shopping:

Links to:

Two credit reporting agencies
A trade organization
A syndicated writer's story on the subject
Discredited letters from a reader of the site.

And here's a good one: http://www.fairisaac.com/servlet/SiteDriver/Content/397#17

"Credit bureau scores are based on five main categories of credit information. These are, in order from most to least important:

1.Late Payments, Delinquencies, Bankruptcies
2.Outstanding Debt
3.Length Of Credit History
4.New Applications For Credit (Inquiries)
5.Types of Credit in Use"

Will you look at that? Straight from your horse's mouth. Number four on the big hit parade.

Finally, creditscoring.com has, for months, offered free web space to the national credit bureaus with the statement, in bold letters, in the first section of the index page, "Now available: FREE WEB SPACE for the national credit bureaus to explain credit scoring." No response.

The national credit bureaus say scoring is "proprietary." They mean secret.

One of the conclusions of The Credit Scoring Site is that there is a pervasiveness of information about scoring from everybody but those who actually know the formulae, control them, and make all the money from them. Unchallenged, your statements are perfect examples.

• The Credit Scoring Site

Follow Ups:

• Proprietary Sean 09:35:05 6/11/99 (3)
  • Your true colors: "... I'd not only sue... I'd go there with a pump shotgun and mow people down." Greg Fisher 10:28:19 6/12/99 (2)
    • Let me see... Sean 09:02:05 6/14/99 (1)
      • Pay attention. Greg Fisher 09:54:08 6/15/99 (0)
• Credit Scoring Sean 10:48:38 6/10/99 (7)
  • Re: Credit Scoring Greg Fisher 08:33:06 6/11/99 (4)
    • Seeing Through the Spin Sean 09:11:57 6/11/99 (3)
      • I can see I'm going to have to break this down even more for you. Greg Fisher 09:37:24 6/12/99 (2)
        • Your Questions are Disingenious Sean 09:49:14 6/14/99 (1)
          • Your answers are guesses, and you are losing track of what you said. Greg Fisher 02:33:46 6/19/99 (0)
  • Can't we all just get along? Alaska is calling .... Christine Baker 16:47:52 6/10/99 (1)
    • Re: Can't we all just get along? Alaska is calling .... Sean 10:09:31 6/11/99 (0)

Post a Followup

Name    : 
E-Mail  : 
Subject : 

Comments:
: You stated, "If you want a FICO of 680 you need 10 good credit references for every one bad."

: Nothing in the subsequent reference you quoted from Fair, Isaac states anything about the number of accounts.  Their reference is to numbers of people, not numbers of accounts.  Indeed, the very number of accounts one has affects the score (and it could be negatively, a point made extensively on creditscoring.com).  There is no logic to your statement.  Also, the quote you used uses the word "hypothetically."

: You stated, "Similar logic will tell you that if you need a score of 710 you will need 20 performing loans for every non-performing loan on your credit report. This is extremely difficult to do and your best shot of getting 710+ is to have NO non-performing loans on your report at all."  You contradict yourself.  Which one is it:  one or none?

: You stated, "The source you site (creditscoring.com) is notorious for spreading poor information and for slanting everything it has to say against scoring. It claims that scoring is discriminatory, that it punishes people for shopping for credit, etc."

: I searched the page http://creditscoring.com for the sequence of letters "discrim" and came up with three hits... all merely titles of and links to those pages of those titles on other sites.  Bayhouse.com (the host of this message board) is one of them (page title:  "FICO Discrimination" (http://www.bayhouse.com/FICO-discrimination.html)-- statement in red letters on the page: "FICO Credit Scoring DISCRIMINATES")).

: Are you blasting the host, too?

: The other page links are both to the same site: bankrate.com.

: I searched the creditscoring.com index page for the string "bias," and it produced one hit:  the name of an article on the California Association of Realtors web site, a quote from that article, and a link to the page.

: Inquiries on a credit report from shopping:

: Links to:

: Two credit reporting agencies
: A trade organization
: A syndicated writer's story on the subject
: Discredited letters from a reader of the site.

: And here's a good one: http://www.fairisaac.com/servlet/SiteDriver/Content/397#17</a>

: "Credit bureau scores are based on five main categories of credit information. These are, in order from most to least important: 

: 1.Late Payments, Delinquencies, Bankruptcies 
: 2.Outstanding Debt 
: 3.Length Of Credit History 
: 4.New Applications For Credit (Inquiries) 
: 5.Types of Credit in Use"

: Will you look at that?  Straight from your horse's mouth.  Number four on the big hit parade.

: Finally, creditscoring.com has, for months, offered free web space to the national credit bureaus with the statement, in bold letters, in the first section of the index page, "Now available: FREE WEB SPACE for the national credit bureaus to explain credit scoring."  No response.

: The national credit bureaus say scoring is "proprietary."  They mean secret.

: One of the conclusions of The Credit Scoring Site is that there is a pervasiveness of information about scoring from everybody but those who actually know the formulae, control them, and make all the money from them.  Unchallenged, your statements are perfect examples.


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