2007-09-18 08:10:17 · 8 answers · asked by Ray S 2 in Business & Finance ➔ Credit
Only factor is when you are given a loan or have a credit card, and you make payments on time. If you do, you credit score goes up. If you make late payments, your score goes down.
Race has no influence.
2007-09-18 08:19:10 · answer #1 · answered by Anonymous · 1⤊ 4⤋
The reporting services started credit scores in order to level the playing field. Each one of the three main reporting services have a different program or computer system that basically gives scores based on many different aspects of credit. The main ones are how much credit, manner of payment, available credit, legal issues, such as bankruptcy, liens, including tax liens, collections and charge offs. They also consider how many new accounts a person has and how old they are. Nothing in these systems identifies any race or ethic background. I can't believe you would think that. No one actually knows the minute details on these systems, but believe it or not, they do indicate a persons ability to pay and are really correct in predicting whether or not a person will pay. When pulling credit scores, most lenders, banks and credit issuing company's use the middle score as the score to predict their credit decision. Hope this helps.
2007-09-18 09:28:40 · answer #2 · answered by hazel a 3 · 1⤊ 0⤋
See http://en.wikipedia.org/wiki/Credit_score for info on credit scores, including the creation of the FICO score in the US by Fair Isaac & Co.
No, race doesn't play a factor. That would be highly illegal, and the EEOC would come down on it hard if it did.
2007-09-18 08:37:48 · answer #3 · answered by Judy 7 · 0⤊ 0⤋
The Fair Issac Company created the FICO score in 1968. And the score does not take into consideration race or age, it is solely based upon credit history.
2007-09-18 08:24:46 · answer #4 · answered by Anonymous · 2⤊ 1⤋
that`s about the most stupid thing i ever heard. does race factor in? you need to pick up some good books and do away with this race stuff.
2007-09-18 08:20:33 · answer #5 · answered by Anonymous · 1⤊ 3⤋
well to be honist I realy don't know why race would play a factor what credit score thing did you go to cause non of them should matter about race if it did I would report them cause that is discrimantion.
2007-09-18 08:16:37 · answer #6 · answered by Kerrie M 2 · 1⤊ 3⤋
Let me guess, your credit score sucks. It's not because you failed to pay your bills in a timely manner. It must be something else...
A little personal responsibility for your own actions goes a long way.
2007-09-18 08:43:16 · answer #7 · answered by bdancer222 7 · 1⤊ 4⤋
The government! I didn't know race played a factor, that sux!
2007-09-18 08:15:25 · answer #8 · answered by TwinMomma 4 · 0⤊ 5⤋