Does anyone else feel shafted by FICO?

[smallfry]

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@Imhotrodcrazy wrote:
IMHO, all scoring, FICO, FAKO, etc, are worthless.  It's a game of control over us. I know most of those on here will disagree with me, and that is fine.  I still maintain, the less credit, the better.  I will not let anyone, or anything, control me like others let themselves be controlled.  At 67 yrs of age, it has worked fine for me.

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They don't control me.  I use my credit cards the way I used to use cash and checks. I always make sure I pay in full every month and never pay interest. 

[Imhotrodcrazy]

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@smallfry wrote:

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They don't control me.  I use my credit cards the way I used to use cash and checks. I always make sure I pay in full every month and never pay interest. 

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IMHO, IF you have and use cc's, you are under their control. 

[JoeBJay20]

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@Imhotrodcrazy wrote:

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@smallfry wrote:

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They don't control me.  I use my credit cards the way I used to use cash and checks. I always make sure I pay in full every month and never pay interest. 

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IMHO, IF you have and use cc's, you are under their control. 

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I respectfully disagree, it can actually be a mutually beneficial relationship. In many instances, using credit is actually a cheaper option than cash. 

[smallfry]

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@Imhotrodcrazy wrote:

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@smallfry wrote:

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They don't control me.  I use my credit cards the way I used to use cash and checks. I always make sure I pay in full every month and never pay interest. 

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IMHO, IF you have and use cc's, you are under their control. 

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You are entitled to your opinion but your logic escapes me. I never worry about a bill going unpaid because a check is lost in the mail. I get an interest free loan though small when I use my cards for purchases. How am I under their control? 

[fused]

I agree with JoeBJay and Smallfry. I don't pay interest and I "make" my CCs work for me. I earn frequent flyer miles for travel, cash back and points to buy Christmas gifts. I will NEVER let any CCC or bank enslave me again.

[Imhotrodcrazy]

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@smallfry wrote:

 How am I under their control? 

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I guess I failed in the attempt to make my point.  Please forgive an old man.  What I was trying to point out was, when you have/use a credit card, the "ccc" has you in control by way of giving you a cld, canceling your card or a number of other aa against a card holder anything they want to.  This, in my eyes is very much control over a card holder.  Again, we can agree, to disagree, each with the choice of choosing to have, or not have, a line of credit of any type. I am happy that I can choose not to have a line of credit since I am able to pay cash for anything that I want. My mortgage is all that I owe, which is purely used for tax reasons.

[smallfry]

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@Imhotrodcrazy wrote:

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@smallfry wrote:

 How am I under their control? 

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I guess I failed in the attempt to make my point.  Please forgive an old man.  What I was trying to point out was, when you have/use a credit card, the "ccc" has you in control by way of giving you a cld, canceling your card or a number of other aa against a card holder anything they want to.  This, in my eyes is very much control over a card holder.  Again, we can agree, to disagree, each with the choice of choosing to have, or not have, a line of credit of any type. I am happy that I can choose not to have a line of credit since I am able to pay cash for anything that I want. My mortgage is all that I owe, which is purely used for tax reasons.

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One old man to another. LOL. I see what you are saying. I never charge more than I can afford to pay back with the next paycheck. So they can CLD close me do whatever they want. I could live off one small card doesn't matter to me. Since there is a mortgage in my not too distant future I have to play the score game otherwise I could not care less.

[JoeBJay20]

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@Imhotrodcrazy wrote:

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@smallfry wrote:

 How am I under their control? 

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I guess I failed in the attempt to make my point.  Please forgive an old man.  What I was trying to point out was, when you have/use a credit card, the "ccc" has you in control by way of giving you a cld, canceling your card or a number of other aa against a card holder anything they want to.  This, in my eyes is very much control over a card holder.  Again, we can agree, to disagree, each with the choice of choosing to have, or not have, a line of credit of any type. I am happy that I can choose not to have a line of credit since I am able to pay cash for anything that I want. My mortgage is all that I owe, which is purely used for tax reasons.

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Like anything else, it's control if you allow it to be or think it is.  What you're doing with your mortgage is no different, it's a relationship that benefits you.  For many of us, credit works the same way, and once you establish excellent credit, you always have the option of moving to a new creditor the moment the relationship ceases to be beneficial.  

[ECHOBOI4U]

WE HAVE to play the credit game....to say otherwise is absurd to the least.  To buy a home, to buy cars, to get a job nowdays, you must play the credit game in some way.  Credit is a choice but our hands are forced to use it in some way.  It really sucks that our lives (outside of who we really are) is determine by a stupid 3 digit number.  Give me a break.  I agree with the OP.  My spouse has no baddies, low utilization and a good credit mix but cannot get above 685.  I wish I could stomp the FICO indusry sometimes...I feel your pain.

[marty56]

Each night I hear the mournfull cry of my Visa and Sams card telling me to buy that big screen TV, more DVDs and computer games.

Each time we go to Walmart and Sams, I hear the TVs and DVDs calling me to be their daddy and when I'm online, I find my self at Amazon.com , just one click away from that 55 inch Samsung LED TV and 2 seconds away from death by DW.

As a person who did almost everything wrong with CCs in the past, I use CCs for the sole purpose of building and mainatining a good FICO score and being able to get the credit I need.

I always PIF and early, sometimes the day after I use the card.  Since I dont have a fully funded emergency fund, I may have to use credit someday for an emergency which I know isn't the best option but its better than not being able to do anything at all.  I will have an exit plan if that day should ever arise in when it will be PIF.

I reject claims by people who say that you cant use CCs responsibly.  I am and many others here are.