Annual Credit Report-Need a full credit report before 12 months

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@RobertEG wrote:

"FCRA 612(c) Free disclosure under certain other circumstances. Upon the request of the consumer, a consumer reporting agency shall make all disclosures pursuant to section 609 [§ 1681g] once during any 12-month period with-out charge to that consumer if the consumer certifies in writing that the consumer

• (1) is unemployed and intends to apply for employment in the 60-day period beginning on the date on which the certification is made;

• (2) is a recipient of public welfare assistance; or

• (3) has reason to believe that the file on the consumer at the agency contains inaccurate information due to fraud.

• (d) Free disclosures in connection with fraud alerts. Upon the request of a consumer, a consumer reporting agency described in section 603(p) shall make all disclosures pursuant to section 609 without charge to the consumer, as provided in subsections (a)(2) and (b)(2) of section 605A, as applicable."

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Personally, I think there should be a push towards requiring full, free, unfettered access to our own reports. The CRA's are multi-billion dollar corporations that make HUGE net profits - on the order of 20-25%, in Experians case, a billion dollars on 4.6 billion in revenues. I'm pretty sure allowing us unfettered access to our OWN DATA is not going to bankrupt them.

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Right there with you, but I'm far too jaded to think anything like that would happen. After all, *we* aren't the CRA target consumer...

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Obviously it will have to be forced on them via FCRA like annualcreditreport.com was.

[RobertEG]

I guess I am a bit more of a capitalist.

The data held by a CRA is their business product.

Requiring total and free access to a corporation's business product is government intervention and taking of their product. 

I personally would not support that precedent.

[Anonymous]

On the other hand, their product is supposed to be sold to businesses, not to individuals. It'd make sense to me if the data about *me* was free to me, but companies who wanted to obtain *my* financial info would have to buy that data from the CRAs.

[darwin_wins]

That capitalist view only works if we could buy our reports and do something very similar to what corporations do.

We the people shouldn't be restricted from accessing our info. It is not like anyone who wants to live in functioning society has the option of not getting SSN.

[Anonymous]

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@darwin_wins wrote:
That capitalist view only works if we could buy our reports and do something very similar to what corporations do.

We the people shouldn't be restricted from accessing our info. It is not like anyone who wants to live in functioning society has the option of not getting SSN.

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Here is the way I see it - the DATA ITSELF is not 'their product', only the packaging and scoring of that data is 'their product''. The data itself was created by ME and my creditors, therefore it is jointly owned by us. There is nothing in my lending agreements (to my knowledge) that gives aways my ownership of my personal financial data - it merely allows them to share that data with the CRA's. I should have free, unfettered access to that raw data in whatever format they wish to provide it. A simple downloadable CSV file would be fine with me.

[Anonymous]

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@RobertEG wrote:

I guess I am a bit more of a capitalist.

The data held by a CRA is their business product.

Requiring total and free access to a corporation's business product is government intervention and taking of their product. 

I personally would not support that precedent.

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The CRA’s actually make money by preventing you from seeing your own report. This keeps your credit score low because you can’t fix what you can’t see. Businesses pay the CRA’s for your credit report so they can use it to set your interest rate when they lend you money. The lower your credit score, the higher the interest rate they can charge you. The CRA’s and the businesses they sell to have a financial interest in keeping your credit scores low. This is financial suppression. It’s coordinated cheating. You will probably pay thousands and thousands of dollars in extra interest over your lifetime-just extra money that your lender gets to have because the CRA’s helped to suppress your credit score as a kickback to the financial institutions that buy their products. Because why should they bother to compete when they can just rob you directly? Their idea of Capitalism is a “free market” where they take whatever they want from people for free. That’s not Capitalism,o it’s just stealing.

[Anonymous]

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@Anonymous wrote:

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@RobertEG wrote:

I guess I am a bit more of a capitalist.

The data held by a CRA is their business product.

Requiring total and free access to a corporation's business product is government intervention and taking of their product. 

I personally would not support that precedent.

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The CRA’s actually make money by preventing you from seeing your own report. This keeps your credit score low because you can’t fix what you can’t see. Businesses pay the CRA’s for your credit report so they can use it to set your interest rate when they lend you money. The lower your credit score, the higher the interest rate they can charge you. The CRA’s and the businesses they sell to have a financial interest in keeping your credit scores low. This is financial suppression. It’s coordinated cheating. You will probably pay thousands and thousands of dollars in extra interest over your lifetime-just extra money that your lender gets to have because the CRA’s helped to suppress your credit score as a kickback to the financial institutions that buy their products. Because why should they bother to compete when they can just rob you directly? Their idea of Capitalism is a “free market” where they take whatever they want from people for free. That’s not Capitalism,o it’s just stealing.

Credit scores are not low because people can't see their reports.  Credit scores are low because people don't pay their bills on time.  And you absolutely can see your report anytime you like.  You can pay for copy, you can check the little box that says I was denied credit (which you don't have to prove in anyway), or you can use a free site like CK and then get the full report if something looks off.  But no one is stealing from you because your scores are low.  I would argue those of us with charge-offs in our past could be seen as stealing from the credit grantor.  I'm not proud of it, but I EARNED my low score.  And when I get there, I will have earned my high score as well.