Does FICO Calculate Score for Lenders?

Larry Chiang has an engineering degree and taught at a Top 100 University called Stanford University. He spoke because Harvard Business School student, Paul Thompson, called him a “credit score vigilante” and he wrote: “What They Don’t Teach You at Stanford Business School“. Now, Chiang writes at Harbus and investigates how to Beat the FICO.

PALO ALTO, Calif.

By Larry Chiang

Beat the FICO

The idea is to take the existing rules. Hack them.

The idea is to take inalienable, irrefutable truths. Promote them.
The execution runs into lies. So amplify those lies

Here’s what Craig Watts, public relations director for Fair Isaac, had to say: “The median score is about 720 on [a] FICO scale of 300-850.” 

HOW DUMB DO YOU THINK WE murr-CANS ARE!?? Craig Watts expanded the truths further by saying,

“Generally, the median national score has changed little over time. Fair Isaac does not track it that closely, as we aren’t a credit bureau“

LARRY CHIANG SAYS: “omFg, If my FICO were a credit score monopoly called FICO…, you must behave poorly.

Here is where you are going to have to really swallow it:

“We aren’t a credit bureau and don’t calculate scores for lenders,” Watts said.

What he is saying is
– We are Fair Isaac.
– We are the FICO score.
– Lenders calculate FICO.

Disclosure: Fair Isaac sent my employer a cease and desist and we posted it on Yelp (there at the California HQ of FICO.) FICO later took down the Yelp review where I cited and source Cheri St John, FICO’s Sr VP.

May 8, 2017 UPDATE:

observers say that average FICO score… {page taken down!!!} https://t.co/t78WjDPze9

— Larry Chiang (@LarryChiang) May 8, 2017