Well, I figure it's October now, so if one of the CRB's changed their FICO formula in September, we should know about it now. I haven't seen anything on here about confirmed score drops. Did the change get delayed, do you think?
From what I've read, I tend to agree with you. I just know that it was supposed to happen in September for one of the CRB's. We should know by now about any score drops from it, so I'm really thinking that they definitely didn't change the one CRB and probably won't change any of the CRB's, at least not until they figure out how to seperate valid AU's from purchased ones...
You may be right but, even assuming they did learn how to filter "real" users from accounts which are purchased, it would still be illegal under the ECOA. This is because the language of that Act simply states, and I'm paraphrasing, that any account the person is permitted to use must be calculated into a scoring model. It is not material how that permission is derived. Along the same lines, I fail to see the logic behind FICO 08'. They come up with this model in order to combat all of the now millions of folks manipulating the glitch that has existed for years. However, they are sorry that Mom and Dad can't help junior anymore in terms of propping up his credit score. How does that make sense? What difference does it make if someone pays a third party or if Mom adds junior . . . both are still manipulating the system. They simply want to demonize one demographic but, are afraid to do it to the other out of fear of bad press. In any event, I said this was a scare tactic from day one. It may be that it turns out to go through but, it won't last very long. Talk about something that screams class litigation.
