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re: How Credit Scores Work mostly **Spoiler Alert** You have more than one
Posted on 2/12/16 at 5:40 pm to McCaigBro69
Posted on 2/12/16 at 5:40 pm to McCaigBro69
I've seen articles where some companies are looking at different items other than your current credit history to either replace or supplement their current models.
One is based on your friends on Facebook ( LINK)
I really dislike this idea, as I think it would be awfully unfair to someone like me who went to a poor public school in MS where my friends from that school haven't had near the success that I've enjoyed.
SoFi is taking an unique approach where they gauge your earnings potential by where you went to school, what your GPA was, what you majored in, and what career path you could be following. ( Link)
I support this idea as I currently make a decent salary, as my income should double in the next 4 years and continue to grow over my working life as I move up.
One is based on your friends on Facebook ( LINK)
I really dislike this idea, as I think it would be awfully unfair to someone like me who went to a poor public school in MS where my friends from that school haven't had near the success that I've enjoyed.
SoFi is taking an unique approach where they gauge your earnings potential by where you went to school, what your GPA was, what you majored in, and what career path you could be following. ( Link)
I support this idea as I currently make a decent salary, as my income should double in the next 4 years and continue to grow over my working life as I move up.
3
Posted on 2/12/16 at 6:34 pm to blackoutdore
quote:
SoFi is taking an unique approach where they gauge your earnings potential
What does earning potential have to do with being financially disciplined? That's a really stupid approach. Many wealthy individuals go bankrupt just the same as many poors stretch themselves out too much. How about evaluating credit based on financial discipline? I know, it's such a difficult concept.
Posted on 2/12/16 at 8:10 pm to blackoutdore
quote:
One is based on your friends on Facebook ( LINK)
I really dislike this idea, as I think it would be awfully unfair to someone like me who went to a poor public school in MS where my friends from that school haven't had near the success that I've enjoyed.
But if you're the underachiever in your friends group
Posted on 2/13/16 at 12:22 pm to blackoutdore
quote:
seen articles where some companies are looking at different items other than your current credit history to either replace or supplement their current models.
Mortgages are by law/regulations required to use FICO scores. It my supplement but credit scores for major lending decisions are here to stay for awhole
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