When given lemons, make lemonade. Quoted from marketwatch ********************************************** Information overload Credit-monitoring offers exceed most consumers' needs By Kristen Gerencher, CBS.MarketWatch.com Last Update: 6:12 PM ET June 28, 2001 "We're looking to educate*(V.P Cheri St. John, don't you mean, indoctrinate?) the consumer and demystify the lending process in general," Fair, Isaac Vice President Cheri St. John said. FICO scores, for instance, range from 300 to 850, with higher scores indicating less lending risk. About 20 percent of consumers' FICO scores fluctuate 20 to 50 points in any three-month period, according to Fair, Isaac. Five percent change by more than 50 points in that time. http://cbs.marketwatch.com/news/story.asp?guid={A38DBAC0-1AC4-4410-A58F-B87854006B01}&siteid=mktw ********************************************** *Fico,instead of trying to explain the lending process,why don't you try to explain things you actually understand,i.e. 1) Disclosure of your complete scoring model. 2) Your legal opinion on possible restraint of trade issues raised when fico penalizes consumers for opening more than one retail acct, even when this practice rewards visa/mastercard companies and deprives the consumer from taking advantage of 10-20% special price deductions for opening new charge accts and buying products at lower prices. 3) Your legal opinion on the need for Warnings/Disclosures on all credit solicitations and credit applications explaining/defining the exact fico levels and qualifications necessary to be invited,qualified, and Pre-Approved,and Approved for a firm legitimate offer of credit to be extended by a credit grantor. 4) Your opinion on the need for Warnings /Disclosures statement on any applications for credit that will lower the consumers credit worthiness by the mere act of applying for credit.( somewhat equal to the Warnings/Disclosures statement on tobacco products mandated by congress (i.e. this product may lower your fico score and reduce or negate the possibility of home ownership in the near future or cause you great harm.) ********************************************** cc- Fair/Issac Attn;Cheri There must be some good points to this post. OK, so I need a vacation, I'm outta here.Back in a week. VJ
