4 ms·
How much value do the credit agencies add beyond what could be obtained by knowing income, location, number of dependents, and current debt/liabilities? verify
by twobitshifter 4y ago
How much value do the credit agencies add beyond what could be obtained by knowing income, location, number of dependents, and current debt/liabilities?
verifying identity is another matter, but I’d expect what you put on the credit application to be the data that explains the defensible reasons to not give a loan, without needing a magic credit score.
- anonymouskimmer 4y ago"How much value do the credit agencies add beyond what could be obtained by knowing income, location, number of dependents, and current debt/liabilities?" Theoretically they verify these numbers. Otherwise people would lie. Presumably, in the credit score calculation, they also have actuarial tables that allow calculating the odds of delay or default for each person.