Talk:Credit score/Archives/2021

removal of "trusted system" claim

Regarding the 5:40, 31 July 2021 edit of credit score, I have removed the statement about credit/identity scoring being an instance of a trusted system, not on the basis that the statement is false, but because I I think it is likely to distract the reader. While somebody learning about trusted systems may find this to be an interesting observation, for the typical person who is curious to know more about credit scoring systems, this at best would just be ignored, but it could prove to be a disruptive distraction for people who try to make sense of it. Fabrickator (talk) 07:17, 31 July 2021 (UTC)

references for UK credit scores

This source What is a good or average credit score? from Barclaycard shows the UK credit score "full ranges" (a well as the "fair", "good" and "excellent" ranges) for credit scores from Equifax, Experian, and TransUnion (formerly Callcredit).

The U.K. requires each credit bureau to provide consumers with access to a "statutory credit report":

• Equifax Statutory Credit Report: www.equifax.co.uk/Products/credit/statutory-report.html (blocked link)
• Experian Statutory Credit Report]
• TransUnion Statutory Credit Report: www.transunionstatreport.co.uk/ (blocked link)

Here's a short list of other pertinent pages from the various CRAs:

• Equifax "understanding credit score ranges": www.equifax.co.uk/resources/loans-and-credit/understanding-credit-score-ranges.html

I suggest signing your edits below (along with an "edit summary") rather than in the text of this section:

• initial version with links to credit score ranges and "statutory credit report" request pages: Fabrickator (talk) 23:50, 2 August 2021 (UTC)

Semi-protected edit request on 30 September 2021

I suggest changing the following two sections about credit scores in Norway:

In Norway, credit scoring services are provided by four credit scoring agencies: Bisnode (Dun & Bradstreet), Experian, Evry and Creditsafe.

Credit scores range between 1 and 100, sometimes between 1 and 1000. [citation: https://lanfordeg.no/lan/lan-uten-kredittsjekk/]

Sabah2302 (talk) 09:20, 30 September 2021 (UTC)

 Not done: That is a link to a site for getting loans. ScottishFinnishRadish (talk) 10:49, 30 September 2021 (UTC)

Nothing about the history of scoring systems?

Good, bad, or neutral, unlike normal markets this system has not always existed. In fact, it seems to be an extremely recent development. There should be a history of the rise of credit agencies and scores. 96.240.128.124 (talk) 17:32, 19 December 2021 (UTC)

Let's see if I can do a "stream of consciousness" regarding the inclusion of history about consumer credit reporting bureaus and credit scoring:

• should be country-specific (my observations may be U.S.-specific)
• history of credit bureaus is fairly distinnct from history of credit scoring systems
  • (I note that credit bureau has a peculiar notion that "credit bureau" is distinct from "(consumer) credit reporting agency"
  • (Ha ha! Credit reporting agency and Credit reporting agencies redirect to different articles.)
  • (Neither of these seems to acknowledge that the "popular term" in the U.S. for the entities formerly known as "credit bureaus" is "credit reporting agencies" rather than "consumer reporting agencies". Reference: Credit Bureaus: The Record Keepers (St. Louis Fed)
• credit bureau history is largely a matter of consolidation of highly localized credit bureaus
• relationship (if any) between credit cards honored at selected local retailers (e.g. Washington Shopping Plate) and local credit bureaus (were such services independent of the participating stores or were they a true consortium?)
• credit scoring,as a mechanism to evaluate credit based entirely on a credit report is a much more recent development.
• credit scoring is generally attributed to Fair Isaac.
• Watch out for sources! Industry participants have their own point of view to push. (As an example, FICO makes a big deal out of the fact that the vast majority of lenders use a FICO score rather than a Vantage score, but overlook the fact that it's more likely than not that the credit scoring model used by any given lender will not match any particular FICO scoring model (e.g. you may be monitoring the Experian FICO 8 generic score, while the lender you have applied to may be using the TransUnion FICO 9 auto socre), making it somewhat dubious that monitoring any particular FICO score is particularly more helpful than monitoring any one of the current Vantage scores.
• new developments:
  • services like Boost, but number of consumers participating in such programs may be very limited
  • FICO presumably promoting a trend-based credit score
• See also: Credit score in the United States

Fabrickator (talk) 23:21, 19 December 2021 (UTC)

Why would credit karma take 64 points from my credit score without no explanation

Why would credit karma take 64 points from me without no explanation on my credit report. That's the lousiest thing you could do to someone during the Christmas holidays there's a big mistake somewhere 68.81.233.80 (talk) 21:25, 23 December 2021 (UTC)

Undoubtedly, Credit Karma has determined that you use non-standard English, and credit scores tend to discriminate against such persons. (While the credit industry disputes this, unbiased sources support this claim.) After you improve your English, it will take at least 6 months before your credit score reflects this, but after about 3 years, your credit score will recover to where it would have been if you had never used non-standard English. Fabrickator (talk) 00:31, 24 December 2021 (UTC)