Reply
Frequent Contributor
Posts: 360
Registered: ‎10-17-2012

I hope banks in the future could use some machine to test risk.

Now banks have to judge how much risk you are based on your previous credit history and also TIME. So I have to wait another six months to start a new shopping spree because banks don't know how I will deal with the new credit.

 

Though I am 100% sure I will never exploit it because I know myslef well and I always make sure I have enough cash in hand before I use the CC, the bank doesn't know this. I hope in the futuere when the technology is advance enough, the bank could just use a machine to test my personality and infer my reliability.  So I don't need to wait that long and can get all the cards I want.:smileyhappy:

 

 

Fide Amex 15K | Barclays Reward 3.5K | Citi Forward Student 5K | Discover IT 12.8K | US Cash Reward 6K | GE Paypal 5.5K | Wal Discover 6K | CapOne 3.5K | Kohl's 0.3K
Frequent Contributor
Posts: 371
Registered: ‎12-30-2012

Re: I hope banks in the future could use some machine to test risk.

I think the machine would need something like a credit report to base its decisions on. Just cause you have cash on hand, which is great, does not show your willingness to pay and pay on time. 


CSP-$8700, Amex BCE-17.2k, Chase Freedom-$5700
Discover It-$6600, USAA MC-$5900 Ink Bold- $18k
EQ-742 EX-702 TU-737
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 myFICO.com 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.