06-04-2012 12:15 PM
What Rev said...
Fico is only a general picture of our credit worthiness, when you are already a customer of any decent institution they have many other factors that they take in account. They also do not have to even really care what our fico says. This is part of the reason why CUs are so popular with credit rebuilders. The smaller the CU the more direct contact you have with people and the more personal service you will get. A CU is able to take more in account than just random numbers on an app and your fico score. The more internal history you have with any organization the less of a factor that a fico score has on the decision.
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO