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by KennyCason 3491 days ago
Our FICO score isn't tied into every little thing we do in life.
2 comments

No, but it's more tied-in than you might think: supposedly (haven't personally verified but) it's used for employment and car insurance decisions because it correlates so well with bad/reckless behavior.

(IIRC in CA it's illegal to use for car insurance rating, but I'm guessing that in practice that just means they use something else known to have a good correlation with it.)

I'm in Atlanta. They use credit checks for certain types of employment here. I've also heard that it's used for insurance rates, and obviously, interest rates.
The intersection of having a bank account, a job, utilities, car insurance, and a roof over your head is close enough to be 'every little thing we do in life.'
I'm sure there is some truth to that. It also seems that the FICO score is getting slowly used more frequently.

However, it doesn't seem that more data is going into the FICO score. Such as, personal, non-finance related data.