Re: Community feedback about Experian's decision to discontinu
e offering FICO scores on myFICO
02-04-2009 02:46 PM
Agreed on the big government thing, especially since I'm a little to the right of Genghis Khan. I'll disagree on one point though, I don't feel that government intervention in this case would be invasive. It would fall more under the realm of leveling the playing field for us overtaxed working schmucks.
Here's my understanding and correct me if I'm wrong. For example, when buying a new car one of the tools I'll use to determine whether or not I'm approaching a good business is to drive up in my old active duty military and college days car, an ancient yet well maintained Toyota Corolla, and in jeans. I went to my local BMW dealer for a new 335 convertible and they wouldn't even talk to me. Next town over, I at least talked to a sales rep. As it is now, they can just deny me a loan because I drop the suit and roll in with my ghetto car with no explanation as to how they reached their decision because they use the newly appointed crap-tastic Experian?
I'm not saying this would be an invasive regulation; quite the opposite. Consumers need all the help they can get when so much is at stake.