***** NEWS***** Scoring Model

Discussion in 'Credit Talk' started by Nestea, Apr 1, 2003.

  1. Nestea

    Nestea Well-Known Member

    Fair, Isaac Announces Arrival of Affirmative Action to Scoring Module

    FICO®, Top Brand in Credit Scoring, offers long awaited program on a trial basis

    SAN RAFAEL, Calif. â?? April 1, 2003 - Today Fair, Isaac and Company, Inc. (NYSE: FIC) announced that in recognition of todays U.S. Supreme Court ruling in regards to Affirmative action, Fair Isaac will allow a Sixty Day window to begin Today, April 1, 2003 for affirmative action FICO scoring Increases. â??We are happy to announce the ability for anyone to purchase additional points to add to their scoreâ?,said Sue Salmon, Fair, Isaac vice president of myFICO. "It opens the way for people to take better control of their financial standing and attract the credit offers they deserve. We will open the pearly gates to credit bliss by allowing this one-time window to purchase additional FICO Points.
    "
    The FICO score is the "gold standard" score used by the great majority of financial institutions to make billions of credit decisions each year, including more than 75 percent of mortgage loan originations. More than 40 of the nation's 50 largest financial institutions rely on the FICO score to determine an individual's credit worthiness.

    The Cost? Analysts say that this new project will bring in badly needed funds to Fair Isaacâ??s coffers. â??I fully expect no less then seventy-three percent of U.S. credit cardholders to take advantage of this service,â? Bill Gordan, Affirmitive Credit Action Centerâ??s director stated. â??FICO will no longer be known as RNG, or Random Number Generatorâ?.

    Tonya Relfee, President of the California Based UYGF Faculty, estimated the average cost per FICO point to be at Seventy-Seven cents. â??The cost per point will increase as the score gets closer to 720â?.

    Analysts say Fair, Issac shares could double at the open of the stock market on Wednesday.

    About Fair, Isaac

    Fair, Isaac and Company is a global provider of customer analytics and decision technology. Widely recognized for its pioneering work in credit scoring, Fair, Isaac revolutionized the way lending decisions are made. Today the company helps clients in multiple industries increase the value of customer relationships. Fair, Isaac has made the Forbes list of the top 200 U.S. small companies eight times in the last nine years. Headquartered in San Rafael, Calif., this April Fools day.

    Fair, Isaac and FICO are trademarks or registered trademarks of Fair, Isaac and Company, Inc., in the United States and/or in other countries. Score Power and Equifax Credit Profile are trademarks of Equifax, Inc. Other product and company names herein may be trademarks of their respective owners.
     
  2. allen074

    allen074 Well-Known Member

    Nestea, I wonder if now that I am at 741, I can sell some of my points? Perhaps put them on ebay...

    What should I sell them for? $10 per pt? $100? one millllion dollars?

    This is a great idea... lets start ficopointsales.com ?
     
  3. exotic

    exotic Well-Known Member


    LOL......=) WHAT NEXT???
     
  4. IrishEyes

    IrishEyes Well-Known Member

    OK, I don't get it.......what is the point of the whole charade if you can just buy points and buy your way into better credit.

    Sure I would like to buy some points, but doesn't that defeat the whole purpose of credit rating?

    Why not just do away with the whole thing all together??

    How is buying FICO points any different from credit repair like we are all attempting now? Will credit card companies be ok with this, they will have no idea who is really a risk factor.

    I must be missing something, I think it is odd.

    Now, about buying some points, where do I enter my cc #????!!!!
     
  5. allen074

    allen074 Well-Known Member

    its called april fools :)
     
  6. IrishEyes

    IrishEyes Well-Known Member

    GOOD ONE!!

    Can't believe I fell for that one, that's what I get trying to use my brain at this time of night!!

    DUHHHHHHHHHHHHHHHHH
     
  7. allen074

    allen074 Well-Known Member

    heheh - believe me - it took me a minute to get it too :)

    nestea did it right! we must plan a reverse attack on him!
     
  8. GEORGE

    GEORGE Well-Known Member

    â??FICO will no longer be known as RNG, or Random Number Generatorâ?.
    UYGF


    I WILL TAKE 134 F.I.C.O. POINTS FOR COPYRIGHT INFRINGEMENT!!!
    AND A WRITTEN GUARANTEE THAT MY F.I.C.O. WILL NEVER GO BELOW 800!!!
     
  9. zyzy1688

    zyzy1688 Well-Known Member

    that is a good one..
    I almost pull out my cc & ready to jump into fico site,,,haha...
     
  10. lbrown59

    lbrown59 Well-Known Member

    Well it sure fits,
    because FICO is A joke.
     
  11. lbrown59

    lbrown59 Well-Known Member

    That's exactly what needs to be done about the fico con job.
     
  12. Nestea

    Nestea Well-Known Member

    :)
     

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