Every time I think of FICO scoring, I get this image of a guy that just cut my lawn trying to sell the grass clippings back to me. I recall just about 7 yrs ago, my mortgage officer told me they could not reveal credit scores to customers (as he whispered our scores to us). The FICO people believed that if consumer behaviour was influenced by people knowing thier credit scores, the validity of the algorithms would be compromised. I believe this is correct, therefore credit scoring is a sham in my opinion.........just consider they are making judgements about your ability to pay without knowing ANYTHING about your assets, only your debts and payment history. In recent years, not only do they reveal the scores, they charge for the priviledge. That said, I do pay for credit monitoring service ($90/yr) that includes a free "FAKO" score, but its mainly to ensure no accounts are opened without my knowledge. Some of the rationale they use for why your score is x or y is preposterous. Here's a quote from a recent summary: "Credit reports with approximately 30 years of history are consided optimal." My oldest account is 28.4 yrs old, but my average account is only 7.25 yrs old.
