167 People Helped
Member Since: May 2013
BanksStealE. You have written a correct statement. The FICO Credit Bureau is one most people do not know exist. It's offices are in Illinois. That is were all credit scores are compiled. It's office is in Illinois. FICO is Fair Issac Corproation Organization. It was established in 1950. That is where the 'real credit score is being compiled' and the others Equifax, TransUnion, Experian is just wjere our credit is being reported. The other businesses goes to FICO for oxmpiling of our scores. The three bureaus will only keep records when they are reported by the companies or establishment we have business with on a day to day or month to month or every three months. It depends on the business, but making a purchased on credit the companies has their own soure of how to approve your credit and what the score is or not. Right message and it is very true.
love14mr38's reply was:
They will consider you a credit risk when you do not own several credit cards or loans some where. I know I am one of those consumer. No credit oinly with my belated husband. That account of my husband is close and I have build my own personal credit. The system is false and does not care about the elderly any way. But we are still living.
Amen!!! It truly is a scam the companies uses many time against the consumer.
You are correct SaudadePR. It should not, but those "stupid rules"made up as they go along and write rules not on paper, but in the "air". They mske them up as they go along, rules that is. Do not sweat them, because some where in the future, yo may not exist if you do not purchased anything with s contract involved.
They lied to you as they did me. I did not apply so they stop reccomending them to me. The system wants you to be in debt up to your head, but do not fall for their tricks. This is my advice: "Pay them as your monies are available and they will accept the amount you can send, if not they returned your monies for any reason, the Federal Law from Consumer Protection Agency & Federal Trade Commission says you do not pay any more monies. Look up the laws pertaining to these items of interested. I do it all the time & they accept if I send them $10.00 a month. I am paying something, but i usually send more than $10.00. Be alert to these tacts of getting a personal loan it does not work.
I totally agree with you concenring rating these credit bureaus. We can through FTC.gov. Email them and they will help in this area also.
The one principle I learned about bankrupcy is whether it was doione yesterday or 10 years ago. This is first & foremost will show up, regardless what the situation may be. Creditors & credit cards companies look for bankruptcy and other negative on cb reports.
They post in the agreement that we accept and will be approved if these negatives are on your credit report, but lyng they are. You will be denied no matter what they write in their agreements. They will base apporval on negative & credit score which is recorded in FICO means Fair Isaac Act Organination which has been in business since 1980. I looked FICO up and found their information on the web. Look them up and read their information.
I totally agree with your comments. They assumed we are going to file a claim whether we file one or not. This is my view very illegal and unlawful. I go to the FTC &BBB websites for more valid information, I have found out these companies has placed fraudlent information concerning consumers. I suggest before you apply for anything check them out first and see what there grades are with FTC & BBB. Another entitiy we are stuck with is we need every credit card being offered so we can build our credit, that is a lie from the pits of h****. I totally disagree with this commerical or any advertisement.
This is the purpose of getting your credit report once a year. I do not use the inbternet to received my report. I write and manke copies of the letters I asked for my credot report and when received. I apply for being block from any one looking at my credit report. I did it permanently. The only way someone casn view my report is I signed a document to access my credit report and they are obligated by a Federal Law to give and show me my credit report. If the established will not present and show my credit report, I will file a report with the FTC and actiosn will be taken. Many people does not know this, but it is very true. I have documents to prove my information being stated. There are rights and we must exercise them in a porper manner. Write the credit bureau and asked who gave them permission to view your report. They has to give you information and name of business. I had to to do this for my reports. They were required to give me all information.
I understand your dilemna, but there are three credit bureaus, not just FICO which makes 4. I know when they access Equifax, Experian, or Trans Union. They do not carry the same info as FICO. The best advice is get your free credit reports once a year and check the info on all 3 and see if the info is exact. I do yearly and what an amazing site to cross check info, nothing is the same. Regardless what anyone says, whether credit cards companies, banks, financial institutions, & all others who uses our credit reports to approved us. Check for yourselves and learn something about entities.