Consumers—you have NO idea whats being done to you by the FICO company. They developed the SCORE system that lenders use.By tracking certain people (they will not disclose who, what, when or where) they have a statistical model they sell to anyone who needs your score. It is HUGE business. No one can prove accuracy of the scores! Because the system is so full of mistakes, and the factors they use to determine scores are so stupid, thousands of consumers pay more mortgage interest, insurance premiums and card rates.
BEWARE—now because some companies have started to charge to help you raise your score, FICO is going to start charging for advice on how to raise it for you. They put cement shoes on you then charge to show you how to break them off! Read the Wall Street Journal and Wash Post for articles on how FICO and lenders rip you off. This is the biggest rip-off of anything postd in this web site. Dont let ANYONE check your credit unless you must&each time the report is checked your score goes down even if you didnt buy anything!
Alex
Portland, Oregon
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