I just pulled out the parts that I found most interesting. My understanding of this article is that AU accounts will keep working as normal.
Just guessing...
BOB SMITH and JANE SMITH will still be able to enjoy AU accounts. While JOE DOE and MARTHA JONES will not be able to sell and buy AU accounts or benefit from it. Another thing might be that address.
Maybe BOB SMITH and JANE SMITH will have to live at the same address too? But sounds like good news for all of you that use AU.
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Here are the parts that I found most interesting.
"Our scientists have devised a method to consider these trade lines while materially reducing the negative impact that could arise from piggybacking."
Nevertheless, Campbell says, "It was very difficult to see at first if there was a way to compensate for that," while still maintaining the benefit to authorized users.
"Fortunately, we were able to come up with technology that makes it much harder to game the system."
As for what that technology entails, Fair Isaac was unwilling to elaborate.
In the midst of its work on piggybacking, Fair Isaac paused the planned rollout of FICO 08.
e timing of FICO 08's release is unclear and will vary depending on the credit bureau, but should be soon, Campbell says. "As soon as we get everyone on the same page, we'll get that out."
Whenever FICO 08 debuts, the recently announced change has a clear objective: "Keep good users of authorized credit and make it much harder for bad guys to game the system," Campbell says.
Source. Thanks for posting this thread. I got a lot of useful information from it.
http://www.creditcards.com/credit-card-news/piggybacking-fico-credit-score-authorized-user-1265.phpI took it as they only want to stop the buying and selling of AU accounts and not stop the proper use of actual real AU usage.
Message Edited by ilovepizza on
08-05-2008 08:31 PM