I despise these credit scores even as they grow in importance.
I dislike the lack of transparency, the lack of standards, the bizarre rules/algorithms which dont reflect good money management behavior, and most of all, the disregard of actual consumers. Businesses, not you and I, are the customers of this industry, a lesson one learns if and when they ever have a problem with their credit rating.
But since you cant beat them, one might as well understand them as best they can.
How to Boost Your Credit Score
Increasingly, Employers, Others Check Your Ranking; Do You Really Need That Store Card?
November 19, 2005
It might be the most important number you don't understand.
Credit scores -- the arcane calculations pored over by everyone from mortgage lenders to auto dealers to decide how much they're willing to trust you to pay them back -- are growing in importance as their use spreads beyond traditional lenders to wireless-service providers, insurance companies, and even employers.
