Viewpoint: Offline Flaws Of Fair, Isaac

Goldleaf Technologies Inc.

To the Editor:

I had to write you regarding the April 4 article on the Fair Isaac Fico scoring system. I have experienced firsthand the negative effects of "shopping" for credit that were mentioned in the article. However, the problems faced by consumers who shop for credit are not limited to online shopping. I recently was in the market for an automobile and went to six different dealerships. As a result I authorized each to check my credit as a part of the negotiating process. I wound up not buying from any of them. However, a month later I was denied a credit card specifically because of "excessive inquiries."

This would tend to refute the statement made by David Shellenberger of Fair, Isaac that the negative impact of excessive inquiries is "low on the food chain," implying that they would not be a strong factor in making up the score. I would suggest that Mr. Shellenberger (and all other providers of credit scoring products) take a strong look at their scoring models and adjust them to allow for legitimate activities.

Oh, by the way, my local bank had no problem extending me credit. Maybe the flawed credit scoring practices of Fair, Isaac will assist local financial institutions in keeping their customers.