Saturday, September 8, 2007

Blog of the Week: My Financial Odyssey

Blog of the week for this week goes to TMAC at My Financial Odyssey for his post on the new FICO scoring rules. FICO will officially no longer allow an "authorized user's" credit to be positively affected by the good credit of the card holder.

As a article pointed out a couple months ago - some people with really bad credit are (or at least were) piggy-backing onto the credit cards of people with really good credit as 'authorized users' in order to boost the former's credit score. In some of the more extreme cases - complete strangers have been selling their 'authorized user' spots to other strangers so that people that would otherwise be turned down for loans but, for the sake of the 'authorized user' boost to the credit score, are approved. For some reason, the sub-prime mortgage crisis comes to mind...

Honorable mentions also go to Mapgirl for her article on Mr. Earl

And I'm sad to say it looks like it may be THE END (at least blog-wise) for Basil & Bianco Bizarro at the Bizarro World Debt Elimination Freak Show hopefully they're just kidding though. If they're not, they'll definitely be missed.

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