@smackmaster2 wrote:
is the credit scoring system completely crazy and useless? it seems extremely easy to manipiulate does it REALLY do a good job of judging people's credit risk?
We have a couple of very small medical collections that seem to be dropping our scores heavily. It deosnt matter if its $5 or $5000, paid or unpaid.
It is hit or miss if you can get a PFD, so it more like gambling and persistence than really an indacator of credit risk.
Each CRA has a very different disparate score...then there's the FAKO/FICO thing. TU98/04, etc
Authorized users, which can heavily sway a report one way or another...
CRAZY!!!! CRAZY!!!! CRAZY!!!
Well, as a general rule past history is a good predictor of future performance. The real secret to good credit is simple; pay everything on time, don't carry balances, and demonstrate good responsible use of credit. Anything in your file that doesn't fit that description is bound to harm you.
And presonally, I would rather loan money to someone that went through the persistence to get PFD, GW, etc. than someone with open collections. Even if their past history is the same, the on who went to the trouble to clean it all up is probably a safer risk.
