Reply
Frequent Contributor
w20031424
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
E150GT
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

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}