Understanding FICO® Scoring

[igids1]

After the free trial, does Myfico charge you 14.95 per month, or does it bill you 44.85 upfront?

[starry1]

Mine is per month.  I think there might be an option to pay upfront though.

[dnice77]

to the OP any info to back up your claims.... My Fico has matched ,my mortage pull each time..... i need to get EQ up 6 points to get a better rate, i worked on some balances and pull my Fico here and it was 9 points up, told my lender to pull and his was 9pts up as well.

if you stating these type of alligations please back up your info

[ashdawg143]

My mortgage lender score matched my fico eq score exactly.

[basballguy]

most mortgage scores do match

[axxy]

RobertEG wrote:

"One of the biggest complaints about FICO scoring is that the specific criteria it uses are trade-secret, proprietary algorithms. But trade secret law is one of the pillars of intellectual property law in the U.S.  Forcing Fair Isaac disclosure of its algorithms makes no more sense than requiring Coca Cola to publish its formula for Coke, or requiring nuclear weapons labs to publish the workings of a nuclear weapon"

Comparing FICO to Coca Cola completely misses the point.  People can stop drinking Coca Cola without being homeless.  People can't stop using mortgages without being homeless.  The only fair way to do credit scoring would be to disclose the exact details of how the scores were figured, and let the victim appeal unfair scores caused by bugs and unfairness in the scoring algorithm.  Therefore it should not be a trade secret.  If the only way it could avoid being a trade secret would be by having it figured by the government, then that would be the only fair way to do it.  And in any case it should be illegal for scores to take into account anything other than what society agrees are fair things to take into account.  Secret scoring algorithms don't even disclose what they take into account, so there is no way to verify that they're fair.  And unfair bugs can remain hidden for years because there isn't enough light cast on them to make them a priority.

[carlismycat]

Putting something into the governments hands would make it even worse. They are only human too. Thr people high up in gov who make decisions dont always do things in our best interest,nor do thry do things out of fairness.
also, the charge for yhr free trial id not for thr trial. It is a temporary hold,just like if you make certain reservations like s hotel reservation, or car rental fee that gets refunded so long as thr terms are met,etc....
I was charged too. My free trial is not up yet. I saw the charge and instead of jumping thr gun,getting mad and assuming they are frauding me, I picked up my phone and called them to ask about it!
The guy not only explained that it is only a temporary hold that becomes permanent or is removed (after trial period) ,depending if you choose to keep the membership.
Then he said I could get a discount ontopof thealready reduction, (after keeping it ifI chose to continue subscription). So when my trial ends, it will not be 14.95 per month but 9.99! For score watch. I plan to keep it. I cancelled my subscription with truecredit.com after paying them 16.95 (i think they went up to 17,I wasnt keeping track) a month off and on since 2002 all because I didnt know those were fako. I will be using myfico from now on. And I guess since I'm keeping it, I should update on this thread what happens and if they really fo charge 9.99 per month . We will see .

[Aim720]

Why are you guys so obsessed with FICO? They are not the only scoring model.

[InvincibleSummer3]

---

Aim720 wrote:
Why are you guys so obsessed with FICO? They are not the only scoring model.

---

Because the folks who hang out at OtherScoringModel.com are not nearly as cool.

[Aim720]

Get educated!

Get out of the cave!

Please tell me you don't think the earth is flat..