What would you change about the way credit reporting works?

[Anonymous]

I was just daydreaming and wondering what others would do differently if you were responsible for your own credit reporting system.

Assume you're in charge of your own credit reporting agency and coming up with a different way to report credit history and some kind of scoring system for making ratings easier to understand. What do you do? For example...

Would you weight items differently for scoring? Would you have items fall off faster or affect the score faster? Would you have a score at all? Would you factor in more than what is already included, such as utility bills or subscription payments? Would you put it on a scale of 1-10? 1-1000000? A+ to F? Would love to hear what people come up with

[GApeachy]

No, thank goodness it's not the way I thought it was.  I thought the good, the bad, and the ugly was there forever.  It's perfect, we all stand a chance at some point in time.  Sometimes it feels like an online game of sorts, always in pursuit of the 800's, the amazing cli's, the whopper sl's. Just glad I was wrong.

[Lucifer]

I would make it so that and then in the end because of all that and everything else would be and therefore afterall that would be only fair but that's only my opinion and I wouldn't tell everyone how I did it because that's the way it is now and isn't fun to give out some of the info but kind of hide it too.   And that would make it perfect.

[GApeachy]

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@Lucifer wrote:

I would make it so that and then in the end because of all that and everything else would be and therefore afterall that would be only fair but that's only my opinion and I wouldn't tell everyone how I did it because that's the way it is now and isn't fun to give out some of the info but kind of hide it too.   And that would make it perfect.

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HUH?!?  

[Brian_Earl_Spilner]

I would add a payment ratio for on-time/late payments like everyone already thinks exists. Sometimes people have a bad month or something happens that's unavoidable. Someone shouldn't have a 70 point decrease because of one 30 day late out of 800 payments over 7 years.

Yes, I understand that it's based on risk algorithms and established patterns, but not everyone is going to file bankruptcy after one late payment. Sometimes, you just accidentally miss a payment or autopay fails.

[Andypanda]

I would change it so haveing a higher uti on a smaller Cl would take less of a hit than than the same % on a higher Cl. If I spend $1,000 a month does it mater if I put $200 on a $300  cl target red card and $800 on a $15,000 cl card or $5 on the $300 card and $995 on the other. Payment history nad toal % is the same.  I know their are statitstacal models, I just hate micromanaging toy CL.