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FICO to incorporate buy-now-pay-later loans into credit scores

(www.axios.com)
277 points cebert | 1 comments | 24 Jun 25 00:03 UTC | HN request time: 2.448s | source
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bediger4000 ◴[24 Jun 25 02:09 UTC] No.44362247[source]▶
FICO scores are a joke. They hint at what they use to calculate them, but the algorithms are kept secret. Fair Isaac can't reveal the algorithms, otherwise they'd get gamed. Incentives to keep bad info and wrong info in dossiers are strong, too. If allowed, Fair Isaac would put rumors and other bullshit on n your file, and never take it out.
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1. SirMaster ◴[24 Jun 25 14:10 UTC] No.44366464[source]▶
I don't know that they are really that complicated... I just do the things that they suggest the scores are based on. Pay on time, have more accounts that have been opened longer, have a lower credit utilization, etc and I watch my score go up and up.

My score started at around 670 when I was young and before I had done anything and I did the things and now it's around 820.