Credit Score Piggybacking

[thejessecougar]

According to this Bankrate.com article, the practice of a good credit person adding a bad credit person to their accounts to raise the bad person's score will no longer workAnd Fair Issacs seems to be doing another overhaul of the FICO system - how your credit score is tabulated. Considering they will never release what stipulations/guidelines

Comments

[erinm]

how do ficos affect insurance!? i didn't know this! i guess i don't really care about my credit score because we already have a mortgage, and haven't had problems getting loans or credit cards...

[thejessecougar]

The insurance agents have access to the credit bureaus and it apparently can influence the rate they give you. Ask Suze Orman! It was in her 9 Steps to Financial Freedom and I've read that elsewhere as well!

[thejessecougar]

http://www.bankrate.com/brm/news/insurance/credit-scores1.asp

[kisha]

credit scores seem to affect everything nowadays. what pisses me off is that it can affect your chances of getting a job!

now, if i can't find a job (due to a low fico score), how can i make money to pay my bills (so i can raise my fico score)?

geez.

[thejessecougar]

I think that only employers who work with a lot of $$ took that into consideration (i.e. banking, asset mgrs, etc.). We do a credit check here (asst mgmt) and I had a horrible credit score and they still hired me (and we do background checks for sure).