greenman21 wrote:
I'm an African american and find that offensive. Racial my ass, get off your ass, find a job and pay your bills, its that simple. Credit Bureaus don't measure your income or race (unless there is something I don't know), but how you manage credit and debt. This sounds more like an educational subject rather than credit issue. Looking at the facts here, but to say the average African American has lower credit scores doesn't tell the whole story, we also have the highest crime rate, by far the highest % of our race in jail, highest % of single families and the list goes on.
Absolutely. Again, the correlation is just that: a correlation. Statistics tells us that correlations are not a causal relationship; the scores are just a symptom of a deeper issue.
marty56 wrote:
Common sense tells us this could never be true. Even if the formula did have an input for race, where did it come from? You CR doesn't even know your sex or religion, sexual orientation, etc.
Sadly many people will buy this as true, it's never their fault.
Can you imagine the backlash if this was the case? "You're African American. Most FICO High Achievers are Asian, on average." That would be the end of FICO, at best.
"Credit is purely a cash flow tool. Thinking of credit as extra money you didn't have before makes it an EXPENSIVE cash flow tool."
