What would it be?
If I was grand queen of the FICO score decisions, HPs would only appear if they resulted in an approval, secured cards would never report as secured, and paid collections accounts would automatically be removed from reports.
Would be nice!
Have a trial score for people that cannot yet generate a true FICO!
I wish FICO would judge use / activity off reported payments rather than reported balances and we could do away with this $0 across the board being bad nonsense.
I'm certain lenders are already using it to estimate savings rate or lack thereof among other things.
I guess the other thing would not be so much that paid collections or tax liens being removed (since that's a reporting thing not a bureau thing) but I would like to see a paid collection or released tax lien count less harshly than an unpaid one in the algorithm... it's absolutely clear that is the case with underwriting albeit for possible other reasons. As for the secured tag, the biggest ticket items in our life (mortgages, autos) are both secured debts, and FICO doesn't care one whit as to whether anything reports as secured or not.
