Authorized account users under fire…

Well, maybe the headline is a bit too harsh. However, the debate is real. There has been some lively discussion over at The Phoenix Real Estate Guy blog post titled “Buying a Higher FICO Score?!?“. This is the post with the thread.  I suggest reading through, there are some really insightful comments.

I commented on this as well, but in my own posting yesterday I didn’t make much of Fair Isaac changing their rules for authorized users. When I first discovered how people could become authorized users on a good credit account to increase their scores I likened it to all the different tax breaks and deductions the IRS offers and how some companies re-locate to offshore destinations to avoid paying taxes. Is this fraud? It’s a loophole. I put the onus on the rule maker to change the loophole. 

However, many disagree. Butterworth has some thing to say, and so does Blown Mortgage.

Our own local paper has as story on this from the AP.

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