The problem with FICO is that it did not adequately gauge risk. As we see, users with high FICO scores are defaulting left and right. The response by the bankers, we’ve seen, is that no matter what your supposed risk as calculated by FICO, they have reevaluated their entire portfolio without regard to FICO. Seems like such behavior is saying a lot.

Lenders are now openly saying that they are putting much less emphasis on FICO and more on the actual credit data.

What are your thoughts on the future of FICO? Will it be phased out? Is it even necessary to know your score? Why not just continue the great credit behavior and monitor your raw reports?

What’s really is absurd is that the scores accessible on MyFICO.com are outdated and not even the FICO versions used by the bureau’s and lenders. (oh and not to mention that Experian is now gone)

“If you are a believer that the US will experience higher than average inflation in the upcoming years, how would you protect yourself?”