Re: How Much Is A Credit Score (FICO) Worth?

"Daniel T." <daniel_t@[EMAIL PROTECTED]
> wrote
> Without a loan since 1995, you are what the car industry 
> (and possibly
> others) calls a "ghost". You have no FICO because there 
> isn't enough
> data to determine it.

> So, when you ask how much a (good) FICO is worth, the cost 
> you should be
> referring to is the cost of maintaining some debt so that 
> there will be
> data for the FICO system to work with.

Are you sure about this? Because I can find nothing to 
sup****t it. From my reading, just having credit cards and 
utility bills for a long enough time will yield a FICO 
score. Plus now Fair Isaac offers lenders a second automated 
way for determining an applicant's desirability, when said 
applicant hasn't a long enough history, such as (per one web 
site) immigrants, young people, and the recently divorced.

Small aside: I would not trust car dealer****ps to apply any 
sort of fairness to applicants when it comes to loans. Car 
dealer****ps are notorious for financing schemes based only 
in how big a sucker the customer is. 

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