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     | Friday, September 22, 2000 - 12:31 pm  Understanding that Fair Isaac has kept a very tight lid on the algorythm used to compute a credit score--Does anybody know of a site that has posted how they calculate such a score?
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| | Monday, September 25, 2000 - 02:47 pm The lid is quite tight. I don't know of anyone that can successfully calculate a Fair Isaac score on any site.
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| | Friday, October 13, 2000 - 02:00 pm I can say this, being DBA, Fair/Isaacs wrote the program to determine who is a worthy interest cow, not a person who pays their debt on time. The program is written so that a person with one card with a 10,000/3,000 limit/debt ratio has a lower score than a person with three cards with a 3,000/2,000 limit/debt ratio or 9,000/6,000. Thus it is for lenders to determine who is the best person to make the most money from, I have proof of this if anyone wants more info wdsmith35@hotmail.com
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| | Friday, October 13, 2000 - 03:19 pm I think the FICO score was designed as they claim. To measure how likely they are to repay debts. There is another kind of score called a profit score that does what you say. Many creditors (like Capital One) use these as well. If you're more profitable they'll try harder to keep you. I'm not sure if Fair Isaac has programs for that or not. There is an interesting article at bankrate.com on the subject. The article is here: http://www.bankrate.com/brm/news/cc/20000131.asp In the case you stated I have no idea which would be higher on the FICO model. Case One: Pluses - Good limit/debt ratio Minuses - Only one credit card Case Two: Pluses - Several credit cards Minuses - Bad limit/debt ratio I'd love to see proof from anyone that says they have information on how the FICO score is calculated.
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| | Friday, October 13, 2000 - 05:17 pm Me too. And thanks Erik, for the posting and the link. That article explains real well how the system is designed to suck those interest dollars out of the working stiffs. What a despicable society. "People who spend $100,000 a year and never revolve a balance still make money," Houck says. I had no idea it takes that much. I realize fees for accepting credit cards have gone way down. I'm paying PayPal only 1.5% for accepting Visa/MC, and obviously that's split several ways.
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| | Friday, October 13, 2000 - 05:30 pm If anyone has unusual Credit Scores, I'd sure like to see them. Please send an EMPTY e-mail to bayhouse-info@bayhouse.com for my fax #. This gets you an auto response, and your mailing is trashed, due to spam, so don't WRITE to me there. Feel free to black out personal info and account numbers, but obviously I have to be able to read the reported data. THANKS!
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| | Saturday, October 14, 2000 - 11:51 am It is quite obvious that some Fair,Isaac employed and/or contracted actuaries would lurk at this site here. Could they please divulge anonymously the exact formulae for FICO and related scoring algorithms? I believe that they could do it. Many times former military personnel spill the beans on "classified" projects (such as Area 51 in Nevada) even WITHOUT anonymity! C'mon, show some guts you lurkers!
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| | Saturday, October 14, 2000 - 12:06 pm Zachary, even IF somebody would publish the algorythms, who'd be able to calculate THAT math? Not me!
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| | Tuesday, October 17, 2000 - 07:07 am I am trying to find out if a loan originator of a mortgage furnishes limited credit info. about a potential borrower to the lender (eg. fico score) is that loan originator considered to be a "credit reporting agency" under FCRA. I am having trouble finding a definition for when a company is not to be categorized as a CRA under those circumstances. Can you help?
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| | Tuesday, October 17, 2000 - 10:30 am Originators are NOT a credit reporting agency. Originators merely ORDER the reports from the CRAs. None of the info contained in the reports is provided by the originator.
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