Originally Posted by
wastedwords
I'm not saying that B* doesn't work in real world situations. Obviously from your experience and others, it must be useful. But the whole process just doesn't make sense to me from a data standpoint. The data is all there in the credit report. I don't understand why they have to rely on an inquiry value to compute credit worthiness. Maybe they need to hire better programmers.
They are going to have to. Equifax has been trying to kill B* for years and put out many speed bumps to slow it down.
I'm rather surprised creditors haven't done the same thing. Easiest way would be to look at new accounts and AAoA. But if you think about it, how can the company determine if these new accounts didn't come from credit pulls with Experian and Transunion?
My AAoA took a huge beating in 2012 with all the credit cards I app'd and got. Backdating by AMEX certainly helped a little. I'm at one inquiry and pulling every day to get it off.