RobertEG wrote:
Amen, Brother Hauliing!
Well said!
Read the label, and take your poison. Just read the label first!!! Arsenic, or old lace?
Credit scores are not there for the benefit of the consumer... so, ....hmmm, guess who are they there for the benefit of? Could it be the money-makers? So, as Hauling has said so well, we have no choice other than to play the scoring game that has been foisted upon us.
Any sane person would agree that income and debt to income are critical factors in evaluating the credit risk of an applicant. Neither FICO or FAKO consider income or debt ratio. And yet we are slaves to the simplistic FICO and FAKO scores. The lendors are not that stupid, and neither are we.
FICO is not pretty or logical but it serves the needs of those granting credit. So we must follow as good lemmings.
Those who read this forum know how to read the fine print....... and scrape off the FICO feces, and especially the FICO advice to cancel cards, sell your first borne, and pimp out your grandmother/.
If one thinks that any credit score, be it FICO, or the Advantage FAKOs, are created to edumacate or give fairness to the consumer, then click your heels three times, sprinkle some Peter Pan fairy dust on your head, and fade off to Oz or Never-Never-Land, and help MIchael Jackson feed the llamas. The rest of us dont understand, and thus dont accept, the illogic being perpetrated. But we must learn to play the stupid game that feeds their profits, for it is all me can do.
