posted on Jun, 14 2009 @ 04:44 PM
Working in the banking industry, I hear a lot of complaining about the unfairness of credit scores. For starters, it doesn't take long for ones
credit score to plummet, but it takes a long time for a person to get their score back up. Ratings recently changed again where I work. You now have
to have a credit score of 725 or higher to be considered an A score. 650 or below is bad.
An example...a person comes into the bank, they have banked there for years and have always paid their loans off on time, never late on a payment, but
they did get behind with someone else. They come into the bank to take out a loan and are told "sorry we can't help you. You have been very good
with us, but because of late payments over here, we can't give you a loan". Do you think that is fair? I don't and I see it all of the time.
Peoples circumstances change from time to time, they get behind. They get caught up eventually, but they are punished for who knows how long because
of a "score"? Have any of you ever been told no by your bank even though you always paid on time but got behind at some point somewhere else? The
last job that I had, my credit score was consideration for employment...I got the job, but I didn't understand what my credit score had to do with
it. I for one think that it is unfair. I hate it when people leave the branch dejected because we can't help them. Those are the rules!