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I was just thinking about this the other day.
First, why are there 3 credit bureaus? One big credit bureau would be easier for creditors and consumers to deal with.
Secondly, why is the formula for determining your FICO score so darn convoluted? If the average consumer could determine how each action would definitively affect their score and, in turn, what their score would affect, I am sure more people would and could do the right thing.
Maybe some entrepreneur could create some type of credit score program like TurboTax is for taxes. Consumers could put in their credit activity, even hypothetical scenarios, then out pops the resulting credit score! We all know an educated consumer is the best consumer.
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