CreditNet FAQ proposals

Here is another good "going to court reference" that should be added:

http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&postid=194834#post194834

 

Dave,

You might consider adding to the credit monitoring section that with Creditwatch, you can get an updated report only every 24 hours, although you can review older reports anytime.

With Creditexper, you can get an updated report as many times a day as you like, but you can't review older reports unless you save them to your computer or print them out.

 

Nave,

Some updates to the Credit Monitoring section:
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TransUnion:

Identity Guard is now $39.95 for 6 months then 9.99 a month after.

From their site: Offer valid for 6 months of service at $39.95. Thereafter, $9.99/month automatically billed to your credit card unless you cancel.

And as far as I'm concerned it's still trash.
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Privista (Equifax):

Is now 49.95 a year after the 30 day free trial. If you are referred by an existing member, you get $20 off and the member gets 3 months for free. If you need a referal, start a post on Creditnet asking for one.

The score is no longer 0-100, from the Privista web site:
This score is based on the information in your Equifax credit file and is calculated by CreditXpertTM, the industry's leading credit-analysis service. Credit scores fall between 350 and 850.

You can get notifications on the following:

Fraud alert
This alert should appear only after you've instructed a credit reporting agency to place a fraud alert on your credit file in response to suspected fraud. Only you are legally allowed to demand such an alert, which prevents credit from being granted.

ID alert
This pertains to unclear information regarding your Social Security number and/or address in your Equifax credit report. At times, applications for credit may contain addresses that are non-residential or Social Security numbers that are not valid. You may want to clarify these items with the credit reporting agencies. This type of activity may indicate that someone is trying to apply for credit in your name.

SSN change
This alert appears when your Social Security number has been changed, possibly helping someone open accounts and apply for credit in your name. The alert may also result from an error on a credit or loan application, however.

Name change
This alert appears when your primary name has been changed, possibly helping someone use your information to open accounts and apply for credit. The alert may also result from marriage or the use of name variations, however.

Alias reported
This alert indicates that an alias has been added to, removed from, or changed in your credit file. An alias, which does not in itself affect your credit rating, is one means by which someone can assume your identity. A creditor's report that uses your nickname -- Jim Smith instead of James Smith, for example -- may also cause an alias alert, however.

Account inquiry
Also known as a hard inquiry, this alert appears when someone has accessed your credit file. No one may legally do so without your consent or a legitimate business purpose such as the evaluation of an application for credit, employment, or insurance. An inquiry from an unfamiliar party may indicate identity theft or credit fraud.

Account opened
This alert appears when an account has been opened in your name. An unfamiliar account may indicate identity theft or credit fraud.

Account removed
This alert is generated when an item is removed from your credit record. An account is typically removed 7 to 11 years after the last reported activity on that account. The removal of a delinquent account may increase your credit score.

Account status change
This alert indicates any of a number of reported changes to the current status of an account. These changes, which do not in themselves usually indicate identity theft or credit fraud, include added users, late payments, inactivity, bankruptcy protection, and missing or unavailable information. See the full list of possible changes for a complete listing.

Account past due
This alert indicates the amount that has been reported as overdue for a particular account. An inaccurate overdue notice may indicate identity theft.

Change of address
This alert appears when the address reported in your credit file has changed, possibly indicating identity theft.

Public record
This alert indicates that an item of public record, such as a collection, a bankruptcy, a tax lien, or a change in marital status, has been added to or removed from your credit file. An inaccurate record may indicate identity theft.

Credit record change
This alert appears when an active credit record is satisfied, dismissed, or otherwise updated. An inaccurate record may indicate identity theft.

$ Balance change
This alert appears when one of your revolving account balances exceed the previous week's balance by the amount you have chosen. An unexpectedly large change may indicate identity theft or credit fraud. The default value is $200, but you may set your own limit.

% Balance change
This alert appears when one of your revolving credit balances exceed the previous week's balances by the percentage you have chosen. An unexpectedly large change may indicate identity theft or credit fraud. The default value is 2%, but you may set your own limit.
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George posted a slide that was part of the link, and it lead me to the whole document.

I found the link helpful for understanding more about scoring, especially comments and explanations by Pete McCorkell, Senior Vice
President and General Counsel of Fair, Isaac and Company. There were also comments by different mortgage lenders that I found very enlightening.
http://www.ftc.gov/bcp/creditscoring/creditscorexscript.pdf[/url]
PUBLIC FORUM: THE CONSUMER AND CREDIT SCORING
July 22, 1999
Matter No. P994810
Federal Trade Commission
Room 432
600 Pennsylvania Avenue, NW
Washington, DC 19


There are slides on inquiries and why certain ones are shown as duplications and do not impact your scores. You can arrow over to the next slide or back.
http://www.ftc.gov/bcp/creditscoring/present/sld034.htm
Inquiry Dedupe and Buffer period


info on concept of why you fall into either one scoring model or the other, dependent upon whether or not your CRA report answers yes or no to query of "[previous serious delinquency or deragatory public record] and comments about why the same score can mean two entirely different thing depending on which model you are in

http://www.ftc.gov/bcp/creditscoring/present/sld036.htm[/url]


and
http://www.ftc.gov/bcp/creditscoring/present/sld024.htm
5 areas of scoring and examples for each category


I know the 300page missive is a lot of fluff along with some good information and commentary, but I got a lot by reading it.

 

How about a list of CC that blacklist you after chargeoffs and bankruptcy, and how long it takes if they let you back?

humblemarc

 

See if you can add PsychDoc's "Tip...Litigious mindset" thread...

http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&pgnum=1&postid=251938#post251938

It's a great post!