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

"Daniel T." <daniel_t@[EMAIL PROTECTED]
> wrote
> joetaxpayer <joetaxpayer@[EMAIL PROTECTED]
> wrote:
>> You suggested he get loans and pay a huge amount of 
>> interest.
>
> Not really. I suggested that doing so would raise his 
> FICO,

Haven't you said in the past that, since the precise FICO 
algorithm is inaccessible to the public, one cannot know 
what happens to one's credit score when one takes on more 
debt?

Whereas I contend that the general guidance on how one's 
credit score changes is well publicized. According to these 
guidelines, taking on debt may affect the FICO score 
positively or negatively, depending on the details. E.g. the 
guidance is to keep credit card debt a small percentage of 
the allowable balance.

>From our past exchange this year, I realize we are not 
likely to agree on much here. Rather, I am posting so as to 
suggest others go to more authoritative sources, such as the 
guzillion consumer sites that give general guidance on FICO, 
and with which I have not seen any serious dispute. After 
all, if myfico.com 's guidelines are false, the 
repercussions would be serious. With so many people 
participating in taking home loans and therefore so many 
using FICO in this process, one would think there would be 
more complaints about it. The only complaining I hear about 
is not with the algorithm itself, but with ID theft, 
resolved issues not being reflected on the credit re****t, 
and so forth. 

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