Okay, it's time for a class action lawsuit. I pulled all three of my reports between yesterday and today (online) and there is a huge discrepancy between reporting credit card limits and reporting high balances. One bureau had all of my credit limits being reported..score 746. The other bureau was not reporting limits, just the high balances...score 694. All balances and dates were the same. This is a huge difference. So if you have a credit card that is not reporting the credit limit it's killing your FICO score. It just flabbergasts me how something as simple as a credit limit being reported(or not being reported) could affect one's score so dramatically. Dani
Ah. It's nice to see someone smart enough to see FICO for the shell game it is.I think Folks should start suing Fair Isaac for product libality.
The plantiffs would be consumers, who do business with the any business (eg. credit card company) that does not report credit limits. The defendants would be such corporations as Capital One, American Amex, etc. and the credit bureaus who understand the importance of accurate reporting, but refuse to follow the rules or require the above companies to report accurate information. The complaint would be due to inaccurate reporting (not reporting credit limits) FICO scores are greatly reduced, causing consumers declines for additional credit...mortgages, credit cards, auto loans, etc. Dani
Product liability covers damages caused by products. COMPLAINT Fair Isaac sells a product called FICO. This product is damaging peoples credit worthiness and causing them untold financial loss. CRAs sell a product called a Credit Report. This product is also damaging folks credit worth and causing great financial loss. Defendants Fair Isaac CRA s Creditors Plaintiffs Consumers affected by the complaint.
