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Valued Contributor
Posts: 2,374
Registered: ‎03-15-2007
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Re: Your religon or eithnic packground has a FICO Impact?!

Nevertheless, I think it does help if we as existing forum members assume good faith on the part of newbies...even if they are hot under the collar when they appear...at least until clear and convincing evidence appears to the contrary. When I first came here, I wasn't exactly calm, cool and collected myself. The FICO system was enough to make me blow that proverbial 50-amp fuse.

To us, thinking someone drops your score 15 points for criticizing the system seems absurd because we know better. But let's face it: FICO scoring can behave in ways that seem to queer conventional concepts of cause and effect at best, and that are downright counterintuitive at times. So when he saw an effect (-15 to FICO), it was only natural to seek a cause. Maybe it was a charge-off from 2004 he just paid thinking it would increase his score...
- - - -
in a credit-scoring postnuclear Stone Age...
Regular Contributor
Posts: 165
Registered: ‎03-13-2007
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Re: Your religon or eithnic packground has a FICO Impact?!

You have a point on the good faith to new folks, so to that I say, "Yes Daddy, I'll behave." LOL (Dang, I hate it when parents are right!)
 
I will say that I think mentioning the warning letter and the 15 point drop were deliberate though - what kind of warning letter could he have gotten from FICO? Rubbish! Unless of course the letter referred to was an email with the alert, then I could see how it COULD have been construed that way... kinda sorta maybe in a small way.
 
Either way, I'll try to behave in the future. :smileysad:
Super Contributor
Posts: 8,173
Registered: ‎03-25-2007
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Re: Your religon or eithnic packground has a FICO Impact?!



TheNewWorldMan wrote:
Nevertheless, I think it does help if we as existing forum members assume good faith on the part of newbies....


Sorry, but I can recognize a troll when I see one. All other newbies should be well treated, but I draw the line at trolls. If you want to know how to recognize one.... http://ficoforums.myfico.com/fico/board/message?board.id=forumsfeedback&thread.id=222
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Established Contributor
Posts: 720
Registered: ‎05-04-2007
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Re: Your religon or eithnic packground has a FICO Impact?!

I thought mentioning the email warning and the 15 point drop was a joke, and he just forgot to add the smiley. Hard to believe that anyone would spend the money just to see if their score had changed within 24 hours. That's too paranoid even for the tinfoil-hat crowd.

:smileyhappy:
Senior Contributor
Posts: 4,635
Registered: ‎03-11-2007
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Re: Your religon or eithnic packground has a FICO Impact?!



alixwooten wrote:
Errr... I'm a little confused why some of the posters with experience and who have posted helpful information previously and on other threads chose to belittle and make fun of this person's questions even if they are apparent misconceptions?

Certain subjects and certain questions are likely to elicit strong emotional responses. That is to be expected when asking a question that is, literally, racially-charged. Whether it's a newbie or a more seasoned member, responses on the subject will likely generate emotional highs.
 
Senior Contributor
Posts: 4,635
Registered: ‎03-11-2007
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Re: Your religon or eithnic packground has a FICO Impact?!



TheNewWorldMan wrote:
However, race in America is correlated with economic status, at least when considering aggregate numbers. As a statistical cohort, whites tend to be wealthier than blacks. And, since FICO basically measures your ability to pay bills, and paying bills is easier when you're wealthy, I think a prima facie case could be made that credit scores are indirectly affected by the skin color of the consumer being scored--again, at the cohort, not the individual level.


Totally agree. FICO scoring is color-blind. That is one of the strongest arguments for a scoring system. A FICO rep isn't looking at the person's file and picking out little clues, even subconsciously, why they should like or dislike this person. Where did they go to school? Where do they live? What's the ethnicity of their last name? Just to name a few.
 
However, move past that FICO score and into CC apps, home loan apps, car loan apps, etc. The credit granting system is only as good as the people doing the granting.
 
I've personally experienced open racial bias while shopping. DW picked up on it much faster than I did, as she yanked me outta the store.
 
Friend of mine experienced what I would consider flagrant redlining as he described his home shopping experience.
 
That same friend, when he and I were both working on contract at a Feral Gumint Agency, about 10 years ago, experienced an openly hostile workplace that appeared to be directly tied to race.
 
These anecdotes are my lil' ol' experience, so I know it's but the tip of the iceberg.
 
Regular Contributor
Posts: 186
Registered: ‎06-06-2007
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Re: Your religon or eithnic packground has a FICO Impact?!



Revike wrote:
I thought mentioning the email warning and the 15 point drop was a joke, and he just forgot to add the smiley. Hard to believe that anyone would spend the money just to see if their score had changed within 24 hours. That's too paranoid even for the tinfoil-hat crowd.

:smileyhappy:

I took it to be a joke also...
 
If so, maybe the OP could confirm that, it would maybe score him/her some points....ahem, board points, not fico points :smileywink:
Super Contributor
Posts: 8,173
Registered: ‎03-25-2007
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Re: Your religon or eithnic packground has a FICO Impact?!

Your average troll is not interested in Board points  :smileyvery-happy:
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Regular Contributor
Posts: 186
Registered: ‎06-06-2007
0

Re: Your religon or eithnic packground has a FICO Impact?!



Revike wrote:
I thought mentioning the email warning and the 15 point drop was a joke, and he just forgot to add the smiley. Hard to believe that anyone would spend the money just to see if their score had changed within 24 hours. That's too paranoid even for the tinfoil-hat crowd.

:smileyhappy:

Hey, that's not funny.  I wear my tinfoil hat every nite and I have never been probed by aliens...
 
Live Long and Prosper,
ctRob
Moderator Emeritus
Posts: 2,050
Registered: ‎04-17-2007
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Re: Your religon or eithnic packground has a FICO Impact?!



TheNewWorldMan wrote:
When I first came here, I wasn't exactly calm, cool and collected myself. The FICO system was enough to make me blow that proverbial 50-amp fuse.


I remember the good ol' days ... TNWM has mellowed out for sure, man.  :smileyhappy:
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