Or why not come up with a competitor to the FICO score? Something like Mint already has all of my transactions, why not base a score off of the number of times that I have been paying my credit card, car payment, house payment, etc?
If another company can just verify that "Yes, this person has paid all of their promised debts on these specific accounts over the last X years and currently has Y amount of debt that we know of" I think that would solve a lot of the confusion with these scores.
If another company can just verify that "Yes, this person has paid all of their promised debts on these specific accounts over the last X years and currently has Y amount of debt that we know of" I think that would solve a lot of the confusion with these scores.