2007-03-21 13:05:00 · 5 answers · asked by itsme 3 in Business & Finance ➔ Credit
Fair Isaacs Corporation invented the formula for the scores.
Credit reports themselves have been around for years in one form or another. I don't know when Equifax started by I can remember them being around in the 1960's.
Additional Info: I found this on a PBS website.
Credit reporting was born more than 100 ago, when small retail merchants banded together to trade financial information about their customers. The merchant associations then turned into small credit bureaus, which later consolidated into larger ones with the advent of computerization.
By the 1960s, controversy surfaced over the CRAs, according to Chris Hoofnagle of the Electronic Privacy Information Center, a public interest research center. Hoofnagle says the credit reports were being used to deny services and opportunities, and individuals had no right to see what was in their files. In addition, CRAs back then reported only negative financial information as well as "lifestyle" information culled from newspapers and other sources -- information such as sexual orientation, drinking habits, and cleanliness
2007-03-21 13:12:15 · answer #1 · answered by Faye H 6 · 2⤊ 0⤋
Fair Isaacs created the credit score, but it didn't really get popular until Fannie Mae mortgages endorsed it.
2007-03-21 22:55:44 · answer #2 · answered by Mariposa 7 · 0⤊ 0⤋
whoever it was i wish a pox upon him and all his relatives. doublely more pox for the loan shark that invented credit cards. they make millions on interest. kinda like drug dealers.
2007-03-23 01:54:42 · answer #3 · answered by Anonymous · 0⤊ 0⤋
wealthy arsehole that enjoy saying no to the little people
2007-03-21 20:10:08 · answer #4 · answered by kirsty s 2 · 1⤊ 1⤋
I have no clue
2007-03-21 20:08:41 · answer #5 · answered by Anonymous · 0⤊ 0⤋