Re: I Wish you could bribe Experian and the gang
11-03-2012 06:59 PM
I didn't mention the government taking control in anyway. What I meant to say was that if a single entity would make everything (data collection, analyzing, etc) then the scores wouldn't have to vary from lender to lender (ex. lender 1 pulls TU, lender 2 pulls EX).
I guess what I should of said was: to make an universal scoring model that we can access (paying or not, but we should have access to it..) so we can better plan when attempting to do a big purchase. This model could vary for different applications (car, mortgage, CC, installment loan, etc.) like it does now. What I want is just to have access to the score and it not varying between lenders (as long as the category is the same). Other than having some items weigh more than others (ex. having a late payment weigh more than age of the account on one report and vice versa on the other) I see no reason for the score to vary if it is the same information.
OR you could keep it the same as it is now, but give access to all 3 scores (including different versions if any), paying or not, (FICOs used for loan decision making, not FAKOs) that are actually used and make the lender/creditor reveal which version they are using or push just one official version. Basically make it constant across the board.
CK TU: 645; Wal-Mart TU FICO: 693
CS EX: 719
7 CCs, 11 total accounts.
Negs on report: 1 30 day late aged 2 years