Credit scores are the biggest ripoff on the american public.Cra's are making tons of money charging a fee to get your credit score.That is why in the new annual free credit report bill it does not include a free credit score with your free annual report.All 3 cra's have there own system of figuring out your credit score so that none of your credit scores will be identical.You have to pay each cra a fee to get your score or pay a higher combined fee to get all 3 scores.Years ago credit reports did not contain any such animal as a credit score.Fico was invented to raise the bottom line for cra's.It is a lot easier to lower your fico score than it is to raise it and do we need three different cra's ?We only have one ss number.Some people argue 3 cra's are better than one.If that is true why not have 6 or 7 cra's?
Credit scores are not a ripoff. Nobody is requiring you to purchase one. It's your choice to do so. Checking ones credit report is the responsible thing to do at least once each year. Luckily, we have the ability to receive a free one. Checking the credit score though is for our own satisfaction. The credit score is merely a barometer for what's been found in your report. I wouldn't besmirch the CRA's for trying to make a buck. That's what they are supposed to do. They are doing a very good job selling all of us on the idea that the credit score is the 'Almighty'. De Beers did that years ago with 'A Diamond is Forever'. To be simplistic: You take care of the credit report, and the credit score will take care of itself. If you don't wish to pay to see the Magical Number, than don't. Why be unhappy because the CRA's are making money on this? Instead, just turn the tables and become a stockholder.
OK, what do I care? Instead of acting like a victim, why not just become savvy about business marketing and simply don't bite from the apple? Who exactly is making you spend your money buying a credit score? Who is telling you it's important? Answer those two questions, and then sit back and feel stupid. Who is the brain washed consumer? You. Would a CRA employee tell you that a credit score is simply a barometer? If you're going to take me on, get your facts straight.
Get my facts straight?What part of my ranting post is not the truth.Are you in favor of the universal default rule?Muliple cra's?Sky rocketing credit card penalty fees?Arbitration clauses?Predatory lending practices?Yes? OK.
'Rant' was a good description you used. I should have steered clear of commenting on a post left by someone trying very hard to be a 'victim'. BTW, did your original post mention the Universal Default Rule? How about penalty fees? Did I miss the part about predatory lending practices? What do these things have to do with credit scores being a money maker??? Figure out what your argument is and get back to all of us. It possible that I may agree with you. Anytime you wish to debate credit scores, and you feel that you can stay on the subject, please let me know.
You just don't get it.Credit scores have everything to do with all the other facts.You have a very narrow minded outlook at the whole banking industry and how it works.I am not going to waste my time debating an uneducated mind.Don't reply to this post i won't reply to you anymore.
You crack me up Chicken Little. "oh no, the sky is falling, the sky is falling". Credit scores have absolutely NOTHING to do with the Universal Default Rule. Credit scores have absolutely NOTHING to do with the number of CRA's that exist. Credit scores have absolutely NOTHING to do with sky rocketing credit card penalty fees. Credit scores have absolutely NOTHING to do with arbitration clauses. That's like making a ridiculous statement such as a thermometer is responsible for global warming. You complain about the oligopoly, and you'd prefer to have a monopoly instead with just one CRA??? Right, because historically the fewer the competitors the better it has been for the consumer. (smacking head on desk) I couldn't care less if you respond or not. Why you even attempted to defend a losing position is beyond me. I guess I'm not too surprised that once somebody called you on your crap, you went straight to name calling. ajoariz
