Suze Orman Has a Deal With FICO
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I’ve watched Suze Orman’s show on CNBC for the past year hoping what she preaches will rub off on me and help me to manage my finances better. A goal that I am far from. Anyway she constantly asks her callers if they know their FICO score. She never asks about any other type of credit score, only the FICO score. Do you know why she does this? Well, it turns out that Suze Orman has a deal with the Fair Isaac Corporation (FICO). This fact is mentioned in the documentary Maxed Out, a movie about the growing debt problem in the United States. So Suze makes sure she strikes fear into those that don’t know their FICO score. They must find out what it is or they will possibly meet certain financial doom.
I think it’s a little strange for somebody that gives financial advice to be bought by a financial company. The advice given can be a little biased doncha think? Especially since many feel that a FICO score is absolutely useless.
It makes me wonder what other advice is she giving us that benefits a corporation? What about other people I take advice from on TV or radio. Is their advice bought?
I’m now done watching, listening or reading Suze Orman’s books. I would prefer to follow the advice of somebody that will give me tips based on what is really good for me rather than what they have been paid to tell me.
5 Comments
Miiikeee
December 20th, 2007
at 8:02am
Yup, Suzie along with most other TV/Radio financial adviser types always have some plan or service that they have financial ties to, I guess thats that multi-source income thing. I gave up on all of them quite some time ago. Now that I’m retired and refuse to have debt, I could care less what any of my scores are. It’s good to once again have Cash as King.
Jeremiah
December 20th, 2007
at 9:18am
I much prefer Dave Ramsey (www.daveramsey.com) regarding financial advice. He’s radical and opinionated, but he doesn’t waver from his beliefs. He’s says he doesn’t even have a FICO score any more because its been so long since he’s used any type of debt.
He does use advertisers and sponsors, but they have to have similar financial goals and motives as Dave does, not the other way around. The company (www.mind-streams.com) I worked for previously had to remove any mention of loans or borrowing money from the company website just to be a sponsor for Dave’s live events.
Definitly, Cash as King. I’ll be there soon.
Joe
December 21st, 2007
at 7:07am
Seriously how much do you watch her show? She is very up front about her deal with Fair Isaac and that you can check your FICO score through other companies if you prefer…
And what other credit scores are you going to check? Each credit reporting agency has their own, sure, but FICO is what everything I’ve ever got credit for uses! House, car, etc.
Mike
December 22nd, 2007
at 2:39pm
Clark Howard says the same thing. The FICO score is what is used by companies when you apply for credit. Clark has also mentioned that insurance companies will raise your rates if your credit score is too low. So your FICO score is important even if you don’t need credit.
Jim
February 22nd, 2008
at 12:16pm
It is true that insurance companies base their rates on your credit score. If you pay cash for everything, do insurnance companies charge you a higher rate for your lack of a credit score?