Suze Orman and Fico

**Nishu** · 02-07-2009, 07:51 PM

Has anyone seen the documentary Maxed Out? It's really good. Anyway there's this scene in it that shows Suze going on and on about how important the FICO is... and then it says that Suze has a deal with the parent company of FICO! Anyone else thing this is shady?

I can't say that I really had a problem with her before but I didn't have much love for the way she pushed using credit to get more credit. This little bit of news makes me a little more leery of her approach.

**omalleyc** · 02-07-2009, 10:51 PM

I've just started reading Suze Orman books and I was a little put off about using credit to build credit too, but I liked that she said secured CC's were ok (Clark Howard suggests those too) to build your credit back up and it makes sense that to build up your score you have to use credit responsibly.

It doesn't bother me if it's true she's "in bed" with Fair Isaac. The FICO score is the score period so I don't see how that can be a conflict of interest.

**McD** · 02-08-2009, 08:51 AM

I can see how it seems sheisty, but in reality, the FICO is in important.

It's used for much more than obtaining credit these days.

**DJ1972** · 02-08-2009, 09:49 AM

I have heard this about her before. I didn't really care for her anyway. Yes, your Fico score is used for much more than credit, insurance companies use it all the time too. We currently have a great score, but I'm sure it will go down as we don't intend on borrowing for anything else. I am willing to pay a little extra for insurance instead of playing with credit. To me, it's just not woth the risk. And, if something absurd happens and I have to get a loan....my local bank doesn't use just the FICO score.

**rainbowgc** · 02-08-2009, 12:22 PM

I used to watch Suze and I liked her "Can I afford it"; however I soon tired of her constant talk about FICO. Now she is banded from TIVO LOL

**msmeg** · 02-11-2009, 10:25 AM

I think you need to take her advise as a whole and not just look at one bit.

Yes she says we need to build and protect out credit. but she also says we should carry no credit card debt.

If you can't pay for a car in 3 years you can not afford it.

You need a 8 month emergency fund

and you need to fully fund your retirement account AND it should not all be in stocks

She was against all these home loans that people could not afford and did not have a down payment for.

I do not see where understanding FICO is a problem if people understand and fix that problem they are on their way. to financial peace.

Credit cards are not bad it is our use of them that is bad.

I have learned lots of things from watching her show. BUT it is not the only one I watch. I listen to lots of the experts including everyone here and then find what works for me.

If I would have listend to my grandfather I would never have gotten into debt. pay cash for your car. you do not need fancy cars. Do not replace it fix it. credit is only to buy a house. and put 20% down.

**itlw8** · 02-11-2009, 10:31 AM

Originally Posted by msmeg

I think you need to take her advise as a whole and not just look at one bit.

Yes she says we need to build and protect out credit. but she also says we should carry no credit card debt.

If you can't pay for a car in 3 years you can not afford it.

You need a 8 month emergency fund

and you need to fully fund your retirement account AND it should not all be in stocks

She was against all these home loans that people could not afford and did not have a down payment for.

I do not see where understanding FICO is a problem if people understand and fix that problem they are on their way. to financial peace.

Credit cards are not bad it is our use of them that is bad.

I have learned lots of things from watching her show. BUT it is not the only one I watch. I listen to lots of the experts including everyone here and then find what works for me.

If I would have listend to my grandfather I would never have gotten into debt. pay cash for your car. you do not need fancy cars. Do not replace it fix it. credit is only to buy a house. and put 20% down.

sorry that was me I was logged in under an old account I forgot I had... This is me now.... anyone know how to get rid of that old account?????

**Nishu** · 02-11-2009, 07:06 PM

Sorry Meg. No idea.

**QuadSquadMom** · 03-09-2009, 10:05 AM

I've been neutral in my perception of Suzy, except for the FICO cheer leading she does to the extreme.

Regardless of how important or not one perceives the score to be, I think it's only fair to the listening/reading/viewing public that she DISCLOSE her paid affiliation to Fair Isaac, the FICO company.

The heir of deception would be lifted if she simply disclosed this.