There are some big problems with the method0logy, however, it's appropriate to have a consumer ratings system for credit -- you wouldn't want to see what would happen without it if it were to suddenly "vamoose".

And, whatever the methodology is should be transparent to consumers so they know why they are paying more for that car loan, as one example.   What's with all this "black-box" baloney when it comes to consumers' financial well-being?