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Anyone else think the algorithm is wrong???

Senior Contributor

Re: Anyone else think the algorithm is wrong???

@CorpCrMgr1 wrote:

@AlgorithmIsWrong see some of the postings in the "Credit Card" forum under Citi Cash Product Change to Custom Cash.  Errors regarding bonuses. This is a programming error. 

Please understand, programmers do not have that much control over things; you're welcome to believe whatever you want to believe, but in the real world things simply don't work that way.

Chapter 13:

  • Burned: AMEX, Chase, Citi, Wells Fargo, and South County Bank (now Bank of Southern California)
  • Filed: 26-Feb-2015
  • MoC: 01-Mar-2015
  • 1st Payment (posted): 23-Mar-2015
  • Last Payment (posted): 07-Feb-2020
  • Discharged: 04-Mar-2020
  • Closed: 23-Jun-2020


I categorically refuse to do AZEO!

In the proverbial sock drawer:
Message 51 of 53
Established Contributor

Re: Anyone else think the algorithm is wrong???

Don't lose sight of a few keys facts when trying to argue about programmers. The CRAs have a product (data),  the algorithms have a product (score) , and the lenders have a product (money). These are all for profit companies, all them employ "programmers", and they all have to answer to regulatory agencies.


If you want to get that money in the last step you best be sure that the first product (data) is accurate. We are given many tools to do this, from free (ACR) to paid services. Instead of wasting energy blaming the programmers that work at these companies, know that we all are subject to the same conditions of credit worthiness if you pull a FICO score. Thankfully we have communities like this to help find ways to maximize scores and save us money.


JOINED 4/2020

FICO 8 = 582, 620, 589 / Mortgage = 633, 526, 581

CURRENT PEAK *Thanks to the MF Community!

FICO 8 = 715, 711, 720 / Mortgage = 688, 696, 681

Message 52 of 53
Valued Contributor

Re: Anyone else think the algorithm is wrong???

Did a quick internet check of regulatory agencies fines. The first one that popped up from 2020 was billions in fines charged to US financial institutions. The agencies asked and the banks answered. 

Message 53 of 53
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