Credit scores are a critical factor when consumers seek financing for major purchases, such as cars and houses. In spite the significance of credit scores, specific criteria used to calculate scores is a mystery.
Today, only generic advise is available to consumers. There is virtually no tactical advice, because no one really knows the specific tactics it would take to affect a score incrementally. This lack of specificity is detrimental to consumers.
This petition seeks to expose the detailed criteria that form the calculation of credit scores. Since these scores weigh so heavily on consumers' ability to obtain loans, they should know exactly what they could do to influence scores. The byproduct will be consumers who are both informed and empowered to make smart financial decisions.