I posted this in another thread but I think we should talk about this and see if we can start a grass roots campaign for some reform. When you start to get to 80 bucks a year to monitor ONE cra for changes to YOUR information in YOUR report it is a bit much I think. There NEEDS to be a way every consumer can monitor all of their reports for fraudulent activity and ID theft without requiring we pay for 3 separate services. Sure the perks, like the score simulators and calculators are nice, but the basic monitoring of OUR credit information should be FREE or at least reasonably-charged-for, as our credit reports are (8$ or less, even free for some states). Should the poor be more subject to ID theft or fraud than someone who can afford $240/year to monitor all 3 reports for changes. After all, it is my information, shouldn't I be notified if someone is posting new information about me to a CRA? Good or Bad, I should get a notification of such a change. I believe we should demand nothing less, it is our information. JMO. Other opinions on the matter...? -Peace, Dave
Very good point, Dave...I've often wondered that myself! You can buy 3in1 credit reports, so why not a 3in1 monitoring service? $80/year just for monitoring one is a little unreasonable. Another thing that really botheres me: If someone is a resident of Georgia, they are entitled to 2 free credit reports a year. Residents of Vermont, Maryland, New Jersey, Massachusetts, and Colorado get one free report a year. I live in NY. The only way I get a free report is if I have been denied credit. Is there any particular reason for this?
I agree Nave... Where do I sign! What do we need to do? Maybe, writing our congressman, but that would take 20 years for something to be enacted. Charlie
Somebody had a post similar to this that's also applicable (might be here but I can't remember all the details). Some credit organization recommended that every person review their CR twice a year. The poster's response was more or less, "Let's see... 100 million people paying $16/year to each CRA to view their own information. I'm sure the CRAs LOVE that concept!" Very true, but I guess $4,800,000,000 doesn't buy what it used to......service, accuracy, service, fax machines and service aren't in the budget anymore. Why don't the CRAs charge for Hard inquiries and give us the reports for free? Maybe then no one would have to sign up for a $79.95 monitoring subscription and... ohhhhh, wait a minute, what was I thinking???
It wouldn't change anything. You'd end up with an opposite scenario where your credit report was free, but it cost you 4 bucks to apply for a credit card or an auto loan.
FREE OR PAY~~~you are doing THEIR work making sure the credit report is 100% COMPLETE and 100% ACCURATE!!!
In this, as in any other industry, ultimately, the cost will be passed on to the consumer, IMO. No matter what law they pass. Always has been, always will be. It's the American Way, LOL.
if the fines were stiffer for reporting incorrect info, and it was easier for the common person to file against the CRA's..you wouldnt have to monitor your reports. As it is, they don't really care if they are accurate or not. They tell you to deal with the CA/OC and brush you off automatically. Why? Because they believe we are all liars and the saintly CA's and OC's never make mistakes. But since that isnt going to happen, I believe you are correct. $240+ dollars a year is too much to pay for policing data that the CRA's should be policing themselves.
It's probably been posted before but you can get the EQ credit watch for $39.95 at: https://www.econsumer.equifax.com/w...onsumerProducts?^start=&orderSource=RCW&PP=P3 Anyone have any links for a cheap EXP credit watch?
