Valued Contributor
Posts: 2,658
Registered: ‎06-05-2008


Or how about this:


Me:   I want to borrow some money.

Bank:  We like to loan money!  Wait, did you pay us as promised last time?

Me:   No, but I PROMISE I will this time.

Bank:  Ok, Sure!  Here's some money!


How likely is that scenario?

3-26-15: FICO EXP: 814 - EQU:813 - TRAN: 809 - AVG: 812 +262 points from JUN 2008 - MY CREDIT JOURNAL

Moderator Emeritus
Posts: 10,932
Registered: ‎12-30-2011


TWMAZ wrote:

I can definitely admit this was a little bit of tangent, I think my point was that there may be other contending issues as to why banks sometimes seem to jerk around their credit customers and that we are not aware of the reasons immediately. I being a Democrat have nothing against Obama, because I am a democrat, but it was one of his policy of which I made mention of on the OP.  I also will say that this post may have been fired off while enjoying a Bakers on the rocks. Anyways, I guess I  just wanted to get a reaction to this OP.

As other's have pointed out, it's not Obama which established this.  Banks have traditionally been collusive, in the sense that if you mess up with one of them, every other bank takes it "personally" too (to be specific, they're going to take their pound of flesh with the way FICO, risk analysis, and underwriting work).  


There's really nothing new to this; while banks have some responsibility to the customer, they also have some to their shareholders.  Sometimes we may never fully know why an account had adverse action taken on it; however, while the vast majority of this specific board is geared towards establishing credit, there's useful information to be found on using it wisely as well... and thereby lessen the chance of one of the banks internal systems flagging your account for review.  Needle in a haystack principles apply.


My apologies, that was a tangent too.

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 693, EQ 8 685, TU 705, EX 709 (02/27/15)
Goal Score: 700 on EQ 04 (01/01/16)

Take the myFICO Fitness Challenge
Moderator Emeritus
Posts: 32,869
Registered: ‎08-04-2007


Thread is locked and under Moderator review.

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.