General Credit Topics

[CLove117]

I think that it's absurd that if you are poor and struggling with bad credit to begin with and you want to improve your credit that you have to PAY to get your FICO scores and Credit Scores/Reports. They always want you to buy a subscription (montly/yearly) just to get some information that should be given to you in the first place. How do they expect you to fix these problems when they are exploiting us and getting us for more money??!!! I don't agree with it....I think I should start a petition to send to the government so that they can offer programs for people who can't afford to pay for their scores so that they can get them for free.

[imducky]

sorry, i just don't agree with you. unless of course you routinely work for free and don't expect any compensation for your time and talents.

fyi, you can improve your credit w/o knowing your fico score, and you can obtain 1 report a year for free from each of the big 3 at annualcredit report dot com

[FretlessMayhem]

Ducky is right, there already is a government program through the FTC (I think) with www.annualcreditreport.com. There is also the FCRA that states you have the right as a consumer to receive a free report within 60 days of being declined credit.

[tidbit1]

I have to agree with Clove.  Business have to pay to get something put on your credit report and you have to pay them to see it. If all the information was guaranteed to be 100% correct on your reports, I wouldn't have an issue with paying - but it's not. CRA's report whatever is sent to them and you can either sit here like a stump and apply for credit unknowingly  - or you can pay to see what is on there. Many many times the information is incorrect, so you have to keep purchasing the reports to make sure it has been corrected.  I know that I have personally had to get things corrected from the same accounts more than once (wrong info listed, get it removed, and it comes back).

I don't mind so much paying a fee but I do think it shouldn't be as costly as it is.  

[imducky]

as has been pointed out, there are several mechanisms in place for a consumer to correct thier reports for free.

i fail to see why you need a fico score to correct inaccuracies. fair isac sells a formula that uses the info contained at the agency to assign a number, they are far removed from reporting. why should you be entitled to fair issac's product for free?

as for the reporting and issues with avenues to obtain your reports, if the FREE ones aren't plentiful enough already lobby your lawmakers to obtain a change in the law. if enough people feel the way you do the laws will be adjusted.

[FretlessMayhem]

The scoring algorithm is proprietary.

Think of it like Kentucky Fried Chicken original recipe chicken. Does everyone have the right to the secret formula? It's there for the taking, but there's only one way to get it.

And my God, is it delicious. *drool*

[ilovepizza]

There are other free scores out there to let you know, bad, good, great, explanation of your score position. Won't be exact but tells you your credit shape.

WaMu.com credit card holders get free monthly PFICO scores.

[imducky]

ya know i was just thinking in addition to the legislated free reports, there are about a kagillion re-sellers out there now. i would venture that if you wanted to one could sign up for a free trial membership and obtain a 3 agency report monthly.

of course you would have to spend the time and effort to cancel before the billing starts.

[marty56]

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FretlessMayhem wrote:
Think of it like Kentucky Fried Chicken original recipe chicken. Does everyone have the right to the secret formula? It's there for the taking, but there's only one way to get it.

And my God, is it delicious. *drool*

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Churches Chicken Spicy (Teaxs)

Poineer Chicken (California only)

[imducky]

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marty56 wrote:

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FretlessMayhem wrote:
Think of it like Kentucky Fried Chicken original recipe chicken. Does everyone have the right to the secret formula? It's there for the taking, but there's only one way to get it.

And my God, is it delicious. *drool*

---

Churches Chicken Spicy (Teaxs)

Poineer Chicken (California only)

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sorry popeyes is tops for me. try telling all your high school buds your a "batterman" with a straight face.