topic Re: Do FICO people have secret information? in Understanding FICO® Scoring

Do FICO people have secret information?

MeCasa — Fri, 26 May 2023 20:04:44 GMT

When we win a dispute they say they take it off but I don't think they do. They may put it in a shadow persona that they can look at when they determine creditwothiness.

Re: Do FICO people have secret information?

NYC_Fella — Fri, 26 May 2023 21:11:39 GMT

@MeCasa wrote:
When we win a dispute they say they take it off but I don't think they do. They may put it in a shadow persona that they can look at when they determine creditwothiness.

This is a pretty far-out take. And "FICO people" don't determine creditworthiness.

Re: Do FICO people have secret information?

Jnbmom — Fri, 26 May 2023 21:27:42 GMT

FICO people 😳 There are no FICO "people" it's a scoring system .

Re: Do FICO people have secret information?

Brian_Earl_Spilner — Fri, 26 May 2023 21:29:25 GMT

@Jnbmom wrote:
FICO people 😳 There are no FICO "people" it's a scoring system .

Sounds like something a fico person would say.

Re: Do FICO people have secret information?

MeCasa — Fri, 26 May 2023 21:32:29 GMT

Whe I recently got in a fight with Verizon, it sure seemed to me that the credit bureaus work hand in hand with big companies

And if something gets reported and then dispted and won..........does the credit bureaus bring you back to your old score immediately?

I'm not sure they do

Re: Do FICO people have secret information?

MeCasa — Fri, 26 May 2023 21:38:21 GMT

And does the credit bureaus delete all records of a dispute or do they leave them and say don't look at these records. Suppose a dispute ends up in court, the credit bureaus need proof of their actions. So we know they keep everything, but are they used in the scoring?

Re: Do FICO people have secret information?

Horseshoez — Fri, 26 May 2023 21:50:53 GMT

When the CBs delete information, it is gone.

Re: Do FICO people have secret information?

MeCasa — Fri, 26 May 2023 22:20:48 GMT

We'll never know for sure since these folks are tighter than the CIA. But I'm glad you seem to think they are straight players.

Maybe they are.

Re: Do FICO people have secret information?

Jnbmom — Fri, 26 May 2023 22:31:56 GMT

@Brian_Earl_Spilner wrote:
@Jnbmom wrote:
FICO people 😳 There are no FICO "people" it's a scoring system .
Sounds like something a fico person would say.

Please don't blow my cover 😂😂😂😂

Re: Do FICO people have secret information?

Horseshoez — Sat, 27 May 2023 00:44:53 GMT

@MeCasa wrote:
We'll never know for sure since these folks are tighter than the CIA. But I'm glad you seem to think they are straight players.

Maybe they are.

Just so we're clear, just because the three main Credit Bureaus delete your information, this in no way means the likes of Amex, Barclays, Chase, Citi, and many others delete their in-house information. Said another way, for many lenders, you could have burned them 20 years ago and they still remember and will often deny you any new credit unless and until you pay up.

Re: Do FICO people have secret information?

Thomas_Thumb — Sat, 27 May 2023 00:49:33 GMT

@Horseshoez wrote:
When the CBs delete information, it is gone.

CBs don't generate data, it is provided to them from other sources. Those sources exist as does the data. Fico is not a data repository. It just spits out scores based on data fed to it.

There are a great many incognito files and scores on all of us. For some limited insight search the scoring of america. Want to know one of your reputation scores? Look yourself up on mylife.

Re: Do FICO people have secret information?

markbeiser — Sat, 27 May 2023 01:02:43 GMT

@Brian_Earl_Spilner wrote:
@Jnbmom wrote:
FICO people 😳 There are no FICO "people" it's a scoring system .
Sounds like something a fico person would say.

dundundun-suspense.gif

Re: Do FICO people have secret information?

MeCasa — Sat, 27 May 2023 01:32:33 GMT

What made me think about this. I have 9 or 10 mcredit cards. Two 10-15000 0% cards are 90% maxed. The rest of the cards are clean. EXCEPT a $5000 0% Wells Fargo card. I have $1250 on this card. When I look at various projection sources including CreditKarma they suggest paying the Wells Fargo card down. They don't say anything about the high cards, they suggest paying the Wells Fargo card down. The Wells Fargo card is only at 25% utilization and I wondered why they suggest this.

And I couldn't understand why they were suggesting this and I wondered if Wells Fargo was paying for that advice. I'm still not sure they're not. I'm telling the truth here and it bothers me.

Re: Do FICO people have secret information?

NYC_Fella — Sat, 27 May 2023 02:21:03 GMT

@MeCasa wrote:
The Wells Fargo card is only at 25% utilization and I wondered why they suggest this.

And I couldn't understand why they were suggesting this and I wondered if Wells Fargo was paying for that advice. I'm still not sure they're not. I'm telling the truth here and it bothers me.

Perhaps because it's the easiest one to pay off?

In any event I wouldn't trust anything Credit Karma says.

You are overthinking this. FICO scoring is very straightforward and mostly quite predictable.

Re: Do FICO people have secret information?

Horseshoez — Sat, 27 May 2023 04:37:14 GMT

@Thomas_Thumb wrote:

Want to know one of your reputation scores? Look yourself up on mylife.

LOL, I just looked myself up; the only record which popped up was from an address I lived at in the 1990s and it said I was 123 years old.

Re: Do FICO people have secret information?

MeCasa — Sat, 27 May 2023 13:27:03 GMT

Yes, I probably am overthinking it, I have a basic need to control everything and a Fico score is not that easy to understand or control :-)

Re: Do FICO people have secret information?

Horseshoez — Sat, 27 May 2023 13:50:49 GMT

@MeCasa wrote:
Yes, I probably am overthinking it, I have a basic need to control everything and a Fico score is not that easy to understand or control :-)

There are lots of folks here who have a need to tightly manage their lives; I strongly recommend you search out the AZEO (All Zero Except One) threads and give them a review. The information provided in those threads will give you the necessary tools and understanding to control as much as can be controlled (which is still far from full control).

Re: Do FICO people have secret information?

MeCasa — Tue, 30 May 2023 22:28:55 GMT

Perhaps I worded this post wrongly. I believe the credit bureaus act in conjunction with large corporate collections to get us to pay money whether it is rightly or wrongly owed. I was spotless, no collections, no late payments but when Verizon filed a collection on me all three scores dropped 100 points. Surely the credit bureaus didn't think $76 was going to affect my financial stability.

I believe the credit bureaus have side deals with some collection companies (especially those with one big client). I still don't believe that the charge was right especially after 15 years of paying my bill on time. Verizon used the credit bureaus to have their way with me.

I hope I'm not pregnant........

Mike

Re: Do FICO people have secret information?

AzCreditGuy — Wed, 31 May 2023 18:09:07 GMT

@MeCasa wrote:
Perhaps I worded this post wrongly. I believe the credit bureaus act in conjunction with large corporate collections to get us to pay money whether it is rightly or wrongly owed. I was spotless, no collections, no late payments but when Verizon filed a collection on me all three scores dropped 100 points. Surely the credit bureaus didn't think $76 was going to affect my financial stability.

I believe the credit bureaus have side deals with some collection companies (especially those with one big client). I still don't believe that the charge was right especially after 15 years of paying my bill on time. Verizon used the credit bureaus to have their way with me.

I hope I'm not pregnant........

Mike

This post is just crazy man....I have Verizon and I would still pay $76 because I know the dispute later on would give me time to see what happened. I think you are confusing the fact that Verizon is shady and they have business practices that benefit them and no you the consumer....I learned this after took them up on a iphone 14 pro for free...because its not free ....

Re: Do FICO people have secret information?

MeCasa — Thu, 01 Jun 2023 17:35:27 GMT

I don't know what to say....I would appreciated a heads up!

I mean, I'm a forum buddy and all :-)

Sometimes the lessons learned hard are the lessons remembered. I'm 68 byears old and still learning hard. still talking proud, I laughed and said "I'm not paying anything I don't owe".

Then I paid them and slthered away. :-)