Credit scores oh dear !!

GingerBob_3

mcpitman wrote: »

There is no supposedly about "these people" who work in the financial industry.

Even if you applied at a lender, and I happened to work there, I still wouldn't be able to show you the scorecard, what data it uses or what it says about you (or your "credit worthiness"). Even if I redacted the PII data within that scorecard, I still wouldn't be able to show you the content of the scorecard because of business privacy or IP rules and regulations.

Even if you launched a SAR you wouldn't be able to see the "score" you were given, just the data content that was used to generate that "score".

There is no "Black Art" about credit reporting. The simple fact remains, that any financial institute will never tell many of their employees, let alone an internet forum what the scorecards are made up of and what lending appetite they have or profile of customer they are interested in.

Although someone with half a brain can look at what they are trying to sell and join the dots to what there target market is.

For the paranoid amongst us, I am sure you will embrace the EUGDPR ruling that is coming, where you will have the option to "opt out" of the use of autom,ated scorecards. However, this in itself may mean you would not get approved as a term of the product maybe to use automated scorecard decision.

Excuses, excuses, excuses!


I guess eventually someone who does work in the financial sector and gets access to reports from the CRAs will take a screenshot, redact the identifying data and post it here, but I'm not holding my breath. Scorecard? What's that? Not interested. I'd really like to see a display of what the CRAs send out to their customers though.

mcpitman

GingerBob wrote: »

Excuses, excuses, excuses!


I guess eventually someone who does work in the financial sector and gets access to reports from the CRAs will take a screenshot, redact the identifying data and post it here, but I'm not holding my breath. Scorecard? What's that? Not interested. I'd really like to see a display of what the CRAs send out to their customers though.

No excuses, just facts GingerBob...

Sincerely doubt any one in the financial industry will do this, for reasons mentioned many times, by many different posters on this thread.

Not entirely sure all lenders see raw data from CRA's, the raw data is pushed through a scorecard to present a decision.

The data a lender recieves about you is available to you direct from the CRA. (costs you ~£2, ya know).

It is the manipulation and calculation of algothiryms after that data is presented to the lender that affects the decision. It is a voew of this or the methodology sat behind it you will never get to see or get anyone to post online.

P.S Dictionary corner time - Scorecard is a report that gives information about the status, condition, or success of someone or something :beer:

I couldn't possibly think of anyone who "actually" works in the financial sector, many posters on this thread alone for example.

GingerBob_3

But they don't see the same - do they? For instance, we are led to believe that the CRA customer does not see the name of the merchant/lender against an account - but of course that might not be true. The CRA industry is a noted liar, so who knows. Unless someone posts an example report we are in the dark.

mcpitman

GingerBob wrote: »

But they don't see the same - do they? For instance, we are led to believe that the CRA customer does not see the name of the merchant/lender against an account - but of course that might not be true. The CRA industry is a noted liar, so who knows. Unless someone posts an example report we are in the dark.

At this point we must agree to disagree I think, this current conversation is deconstructive to the nature of the original thread and I feel I am repeating myself. Pretty sure I am thoroughkly versed in this subject, not entirely sure you are.

Again, for the 3rd time, no-one working in the financial industry is going to post an example report.

No offence GingerBob, just don't think this debate is going anywhere. All the best! :beer:

JimmyTheWig

GingerBob wrote: »

But they don't see the same - do they? For instance, we are led to believe that the CRA customer does not see the name of the merchant/lender against an account - but of course that might not be true. The CRA industry is a noted liar, so who knows. Unless someone posts an example report we are in the dark.

Correct. We either need to accept what we are told that they see, or accept that we are not going to know.