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dog wrote:no bob, i am serious, i read on bankrate.com that that is how they calculate scores. there was a lawsuit out of the 9th circuit court of appeals on a computer error similar to what you mentioned. very interesting case. this girl wasnt able to get financing for her breast augmentation b/c equifax reported that she had defaulted on her hooters mastercard, when in fact she had never been late, well, except for the one time that she got stiffed at hooters, but she miscarried. the judge ruled that in order to be in compliance with federal law, each cra must use the process that i described above before handing out credit scores. the cra appealed to the us supreme court, but withdrew their appeal because they did not want their name broadcast all over the media in a case called Doe v. Hooters, Equifax, et.al....if you dont believe me, go look it up.
dog wrote:no bob, i am serious, i read on bankrate.com that that is how they calculate scores. there was a lawsuit out of the 9th circuit court of appeals on a computer error similar to what you mentioned. very interesting case. this girl wasnt able to get financing for her breast augmentation b/c equifax reported that she had defaulted on her hooters mastercard, when in fact she had never been late, well, except for the one time that she got stiffed at hooters, but she miscarried. the judge ruled that in order to be in compliance with federal law, each cra must use the process that i described above before handing out credit scores. the cra appealed to the us supreme court, but withdrew their appeal because they did not want their name broadcast all over the media in a case called Doe v. Hooters, Equifax, et.al....if you dont believe me, go look it up.
I'll go along with that one...just toss a coin to see if your score goes up today or down.
TheNewWorldMan wrote:
I'm of the opinion that Fair Isaac likely introduces a certain amount of "noise" into the scoring results to try and make reverse-engineering the formula more difficult. I wouldn't be a bit surprised to find that a random number generator generates a number between 1 and 6, then flips a virtual coin to decide whether to add or subtract that number from your score on a given pull. Kind of like how the U.S. GPS satellite system would throw some noise into readings given to civilians...only the military had access to the precise data.