51–60 of 459 posts
Earlier quoted context omitted.
Probably the same math they use to calculate our credit scores and everything else they screw up.
The math behind credit scores is quite good. They're very effective at predicting credit risk.
What do you want to bet the payment is less than $1 per claimant? $31MM for 150 million affected people. They knew this would be the result, and the FTC went along with it. I’m a free market right wing guy — and I’d have no problem with the government dismantling Equifax over this breach and its fallout. That company is chock full of assholes.
I would like to bet $1,000 that the payment ends up being $1 or more per claimant. You in?
We're all supposed to take it as just a fact of life now that we need a monitoring service for a service none of us opted in to. And who runs these monitoring services? Why of course, it's the credit reporting companies! Who else would it be. So not only do they know when fraud is happening to you, but they will happily ruin your life while knowing and charge you for the privilege of knowing this is happening to you.…
Earlier quoted context omitted.
The math behind credit scores is quite good. They're very effective at predicting credit risk.
I had a recent 30 day delinquent payment reduce my credit score by 80 points. And this was because the letter in the mail was mid-delivered. Not that the credit card issuer, nor the credit agencies give two shits. This was after about 5 hours of calls ping-ponging between the two.
Between the "Pay for Delete" scams and the gamifying of your credit score through services like CreditKarma I really questions how close these scores are hitting anymore in relation to relative credit risk.
Earlier quoted context omitted.
The math behind credit scores is quite good. They're very effective at predicting credit risk.
Your statement is interesting but does not constitute nor provide any substantive information that is backed by evidence. Backup your 'anecdotal' claims.
Earlier quoted context omitted.
Probably the same math they use to calculate our credit scores and everything else they screw up.
The math behind credit scores is quite good. They're very effective at predicting credit risk.
We're all supposed to take it as just a fact of life now that we need a monitoring service for a service none of us opted in to. And who runs these monitoring services? Why of course, it's the credit reporting companies! Who else would it be. So not only do they know when fraud is happening to you, but they will happily ruin your life while knowing and charge you for the privilege of knowing this is happening to you.…
Unfortunately, most of us did opt in. If you look at the credit agreements we sign when we buy cars, open credit accounts, enter into a mortgage, we give the lender the privilege to share our data with these credit reporting companies.
Earlier quoted context omitted.
I had a recent 30 day delinquent payment reduce my credit score by 80 points. And this was because the letter in the mail was mid-delivered. Not that the credit card issuer, nor the credit agencies give two shits. This was after about 5 hours of calls ping-ponging between the two.
Your anecdote is interesting but does not constitute data on the overall predictive powers of credit scores.
Places can report whatever they want to. And you can dispute it, but the person who report it will just say "no, we're right" and it'll stay up.
Earlier quoted context omitted.
The math behind credit scores is quite good. They're very effective at predicting credit risk.
I had a recent 30 day delinquent payment reduce my credit score by 80 points. And this was because the letter in the mail was mid-delivered. Not that the credit card issuer, nor the credit agencies give two shits. This was after about 5 hours of calls ping-ponging between the two.
Fortunately, credit scores usually recover rather quickly from one-off delinquencies if you stay current afterward. And I bet you'll be paying more attention to your bills now, won't you?
The credit score is doing exactly what it's supposed to.