I am VERY Alarmed by the FREE Credit Scores & Alerts Offewred By the Banks

[Gonzozap]

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@Anonymous wrote:

I see what you're saying and can understand your concern, but what is on your credit report TODAY is what matters.  Seeing what was there in the past is really irrelevant, as there's no way to prove its validity.  What I mean is that while those 3 baddies may have been legit, they just as easily could have been reported in error and removed accordingly.  There's no way to know this, so the only "fair" thing to go by is what is visible on your current credit report today if pulled.

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Well, frankly, we don't know what "matters" to any particular lender.  And all IS fair in money and credit.  Lenders can do whatever they want to do - except violate fair credit laws.

[SouthJamaica]

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@Gonzozap wrote:

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@SouthJamaica wrote:

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@Gonzozap wrote:

I was talking to a woman at SDFCU this morning about my credit score. I was telling her how I had no bad credit and I expected my score to climb even higher real soon after paying down some debt.

She then said to me how "she could see how some of my prior poor credit had tanked my scoore."  I thought "WHAT?"  I asked her what she meant.  Well, right in my credit alerts provided free to me on the SDFCU site - and free to them also I guess - she could see 3 prior baddies that had been removed from my report.  The baddies came with all the pertinent info - when, who, how much, etc., in the form of a removal alert.

THIS IS A PROBLEM.  If my accounts must drop off my report after 7 to 7.5 years, then my current creditors should not have the privilege of seeing what I "used to have" merely becasue they choose to offer this free service.  It's just flat out wrong & unfair for them to still be able to see this info merely because of alerts.  I truly wonder if this is part of some ulterior reason why they offer the service. I realize every bank does not offer what SDFCU offers in terms of the alerts.  Most just show a score. 

But if you have a SDFCU account & have done some credit repair, check out your alerts on their site.  I have one alert showing a delinquent $7k account at HSBC that dropped off my report in Dec 2016.  I find this totally out of line.

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I'm sure that with or without the reports on your site, SDFCU has the right to soft pull your reports whenever they feel like it.

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We all undestand a SP. but that's not what I was talking about.  Two drastically different animals.  I was clearly referring to the fact that SDFCU keeps track of credit alerts and those alerts in their system are notification flags that indicate when events have occurred on the credit report.  Such as when a negative account dropped off.  That information is NOT something a lender would see on a SP.  I don't see how/why you are correlating the two.

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Sorry, I misunderstood.

[Anonymous]

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@Gonzozap wrote:

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Well, frankly, we don't know what "matters" to any particular lender.  And all IS fair in money and credit.  Lenders can do whatever they want to do - except violate fair credit laws.

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What fair credit laws are being violated in your view?  I'm not following.

I can assure you that a lender is going to care about what is on your current credit report over anything they may have on file from the past that may or may not have been accurate.  I would think the amount of negatives removed from accounts based on error exceeds those removed from GW adjustments (99.9% of the population doesn't even know you can attempt a GW adjustment) so I don't see how a lender would adversely look upon a former report showing baddies but the current one not showing them.

Again, I get your concern, but I don't think it is valid with respect to how creditors view you.  Also, it's a level playing field... so whatever you are concerned about a creditor seeing in your past would hold true for everyone else that may have had negatives on their reports in the past.

[Gonzozap]

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@Anonymous wrote:

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@Gonzozap wrote:

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Well, frankly, we don't know what "matters" to any particular lender.  And all IS fair in money and credit.  Lenders can do whatever they want to do - except violate fair credit laws.

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What fair credit laws are being violated in your view?  I'm not following.

I can assure you that a lender is going to care about what is on your current credit report over anything they may have on file from the past that may or may not have been accurate.  I would think the amount of negatives removed from accounts based on error exceeds those removed from GW adjustments (99.9% of the population doesn't even know you can attempt a GW adjustment) so I don't see how a lender would adversely look upon a former report showing baddies but the current one not showing them.

Again, I get your concern, but I don't think it is valid with respect to how creditors view you.  Also, it's a level playing field... so whatever you are concerned about a creditor seeing in your past would hold true for everyone else that may have had negatives on their reports in the past.

I think you're losing sight of my point somewhat.  My focus was that once the 7 years have passed and the negative accts have fallen off the report, a lender should not see this information via some backdoor method involving a free credit alert scenario - PERIOD.  And that's regardless how, if, where they actually use that information.  I wasn't emphasing whether they were using the information or how much weight they gave the info.  At the same time, it's something I should never have to wonder about because the creditor should not see old, deleted accounts.  Fact is, once they have access to deleted accounts, we just don't know how they will use that info.  Reminds me of when the judge tells a jury to disregard the evidence or testimony they just heard.  Really?

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[Anonymous]

Well, I guess I can respectfully disagree with your standpoint on the subject.  I honestly don't care if a current creditor or potential creditor can see anything archived from 7+ years ago.  IMO that has zero impact on their credit decisions relative to my current profile, so I wouldn't care what they see.

Ask yourself this, though.  Suppose you had a credit report littered with current baddies from the last year, but you had crystal clear credit reports for the 10 years leading up until last year.  Would it bother you if you were looking to apply for credit today if the potential lender were looking at your crystal clear/clean credit report from 8 years ago that they had archived?  Do you think it would even matter if they were?

Sometimes the questions are more important than the answers.

[dragontears]

So you are upset that a creditor is keeping a record of the previous SP done on you?

[NRB525]

OP, how long have you been with SDFCU? Did you join prior to December 2016?