Established Member
Posts: 29
Registered: ‎09-24-2007
Re: What you should know about the Dodd-Frank Act

Having a score remain static for a week, two weeks or a month sounds good on the surface... But lenders would develop some criteria to protect themselves from the  prospective borrower(s) who would take advantage of the system... The prospective borrower(s) who has everything perfect on the "accounting" day, then maxes everything out and applies for several new loans just because they can...  Whatever criteria the lenders developed would hurt 98% of us to protect lenders from the 2%....  


I love playing with numbers, but, I think all the credit number systems are crazy... Lender A values item 1 for 20% of score and item 2 for 25% of score... While lender B values item 1 for 30% of score and item 2 for 15% of score... FICO scores, FAKO scores.... With all the number games, we are still saying "How well do you meet your financial obligations?" 


Sometimes I wish we used the old alpha system from school..... Every scoring system would translate their numbers to the appropriate alpha... You would know if your score was an A, A-, B+, B, etc...  A few points up or down would not effect you if your score was a solid "B"...