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Understanding FICO® Scoring >
Re: Facts and Fallacies?
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Re: Facts and Fallacies?
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 fused
Moderator
Posts: 13940
Registered: 03-12-2007
Message 3 of 6
Viewed 10,188 times
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Namtac wrote:
It says that lenders consider more your FICO score.
What planet is that? Apply for anything on line and tell me they're like Jimmy Stewart in "It's a Wonderful Life." Good character and a firm handshake??? Ain't going to happen!
I love this site, but that statement seems disingenuous at best. Kind of like the very vague way they (don't) give you just one reason when your score changes - It could be any one of the following....
What are you trying to say?
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07-01-2007 06:10 PM
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Re: Facts and Fallacies?
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Namtac
Contributor
Posts: 31
Registered: 05-30-2007
Message 4 of 6
Viewed 10,183 times
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fused111 wrote:
Namtac wrote:
It says that lenders consider more your FICO score.
What planet is that? Apply for anything on line and tell me they're like Jimmy Stewart in "It's a Wonderful Life." Good character and a firm handshake??? Ain't going to happen!
I love this site, but that statement seems disingenuous at best. Kind of like the very vague way they (don't) give you just one reason when your score changes - It could be any one of the following....
What are you trying to say?
What am I trying to say?
That FICO speaks in a lot of broad generalities. I suppose it's to protect their proprietary scoring methodology. The number is basically the only thing that counts any more.
If my score rises or falls, how about a specific reason?
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07-01-2007 06:17 PM
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Re: Facts and Fallacies?
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fused
Moderator
Posts: 13940
Registered: 03-12-2007
Message 5 of 6
Viewed 10,165 times
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Namtac wrote:
fused111 wrote:
Namtac wrote:
It says that lenders consider more your FICO score.
What planet is that? Apply for anything on line and tell me they're like Jimmy Stewart in "It's a Wonderful Life." Good character and a firm handshake??? Ain't going to happen!
I love this site, but that statement seems disingenuous at best. Kind of like the very vague way they (don't) give you just one reason when your score changes - It could be any one of the following....
What are you trying to say?
What am I trying to say? That FICO speaks in a lot of broad generalities. I suppose it's to protect their proprietary scoring methodology. The number is basically the only thing that counts any more. If my score rises or falls, how about a specific reason?
Yes FICO does but not the contributors who post here. Do you have specific questions? I would be happy to answer them if can. Otherwise there are many others here who can.
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07-01-2007 06:31 PM
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Re: Facts and Fallacies?
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Noah_Bodie
Super Contributor
Posts: 4180
Registered: 03-11-2007
Message 6 of 6
Viewed 10,142 times
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Namtac wrote:
It says that lenders consider more your FICO score.
...
I love this site, but that statement seems disingenuous at best.
Lenders do consider more than your FICO score, and that's a fact. Income, DTI, length of employment, years in your field, to name a few. If it's a bank, some will give you more consideration because you bank there and have a good history with them. I have two VISAs that I doubt I woulda gotten were it not for that I bank with one and have insurance with the other. Some lenders, AMEX and Cap 1 notably, blacklist and won't issue to you even IF you qualify.
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07-01-2007 09:08 PM
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