Credit /Scores are a farce in this country. I live in Michigan. I pay my bills on time, Never pay late, nor do I pay the minimum, Yet after October 2008 The following occurred:

Creditors routinely called and offered me a payment holiday
Match any payment up to a specified amount and stop using the card
Some just lowered my credit line
another company routinely miss processes a telephone payment so that the payment charge back and fee will result in an over the limit status limit for that cycle claiming that the bank could not find the account-even though it is the same account I have used numerous times . Sure they refund fees, but claim that on the date the information was reported I was over the limited.
Another company closed my business card because of the market I lived in they changed the criteria,
(in other words I live in MI. even though I was never late etc. my business is not in distress etc.)
When the other creditors peak at your credit and see that your credit line has been reduced and you have gone over your limit they lower your limit. Now you are over utilizing your available credit so your score that was 700-719 is now 622-690.
In the mean time one company raised the interest rates on all of their customers. To 28.99 I was lucky I called in and was able to get them to manually review my perfect account they lowered 11.99 for 3 months. It is now 18.9. It is doubtful I would qualify for no fee balance transfer at this time.

My plan is to target my bills in a manner that best address My Fico score and write Congress.

This type of of activity is depraved. Tax payers bailed them out, in hopes of salvaging if not stimulating the economy. These types of preemptive strikes are crushing small business and impeding or ability to thrive less long sustain current levels of operation.
Sandra D 231-972-1602
8/29/10

Also, I find it surprising to say the least that FICO is claiming the average person’s credit score didn’t go down after an average reduction of $5,100 in available credit. that’s laughable at best… mine went down at least 5 points after a reduction of only $500! And I have a pretty decent credit score (700-710 depending who you ask, with no “credit repair” phenagling).

Frankly, I believe that the credit scoring systems are manipulated. Not to mention, it’s widely known that a large majority of people know that it is possible, and very easy to, manipulate our credit scoring systems using proven methods. Why is there such a huge market for credit repair, other than the obvious fact that the economy is in such bad shape? Is it not odd to anyone that one could pay a fee to a company and have their unfortunate irresponsibility erased? One of my relatives showed me proof of their credit score increasing substantially after signing up with Experian, with no other activity whatsoever anywhere else on their report.

So what do I think? I’m not exactly sure, but I know enough to confidently say that what is in place is not working and needs to be changed.

Bottom line: At the end of the day, it’s all about profits.

“Has anybody else noticed that there is some serious competition going on in the credit scoring arena, with a number of different scoring models vying for the business of determining who is creditworthy ?

Enough said.