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Senior Contributor
Posts: 6,279
Registered: ‎08-16-2012
0 Kudos

Re: Amex Account Review?

I mean... The CRAs sell our info.. That's how they make money...
That's not a FCRA violation..... Tis to be expected. Lol
I don't think Ive ever seen any "Credit comm svcs" on my report.
Dang, now I want to check my Experian report.
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Super Contributor
Posts: 6,236
Registered: ‎02-23-2011
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Re: Amex Account Review?

[ Edited ]

youngandcreditwrthy wrote:
I mean... The CRAs sell our info.. That's how they make money...

I've opted out, so the CRAs no longer *can* sell my information, at least not officially.  All things being equal, perhaps this will give them less incentive to monitor me to eagerly place potential "negative" information on my reports, such as a $25 library bill I may have from 10 years ago.


Once the sign up bonus era is over, I'm going to freeze all three.


PS - Once your score gets high enough, it's in every banking institutions interest for any "negative" to reduce your score, especially a trivial one.  Trivial derogs--such as aforementioned $25 library bill--do not change or otherwise reduce your risk profile, but your Fico score will decrease by 75 points (if you're 750+).  Higher the score, the greater the drop by trivial negatives, taking years to recoup the score.  Your risk profile hasn't materially changed, but your score has plummeted (from a $25 library bill) resulting in higher interest rates now, which benefits everyone in the credit provider chain.

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