http://www.collectionsworld.com/01wn02.htm Early Warning System ------------------------------------------------------------------------------ TransUnion introduces its Rapid Notify Portfolio Management, an account management service that offers a customized approach to risk management and customer retention. TransUnion says Rapid Notify Portfolio Management notifies customers about changes in an accountholder's credit activity within 24 hours. Customers can quickly modify their account management actions by using custom or generic characteristics and models to capitalize upon these changes. Change notifications are delivered as frequently as daily and electronically. Visit TransUnion at www.transunion.com.
Yes I have found it thanks. It looks like they are trying to compete and catch up with Equifax's credit watch and Experian's credit expert. I guess they realize the other 2 are making money of monitoring why not them LOL. Of course it doesn't mention a price or when it will be available. But it looks like it will be on the order of Equifax's. But then again I use worthknowing and it's free, so i don't need TU monitoring, unless they try to put an end to worthknowing??
Oh, no, you are misunderstanding the product. TU is marketing this to our credit card companies. It is a service that notifies your card company of changes in your credit report. If your score drops, if you get a collection, a late pay, they will notify your card company, who has put an aoutmated response in place, such as reducing your credit line or raising your interest rate. And if your score goes up, they can respond by raising your limit, or lowering your rate. It is not a service like CE, for consumers. When they say "customers" they mean TU's customers - the credit card companies.
Jeez. I'm about to quit using credit. If this is the kind of crap we have to go through, I choose cash. It reminds me of my fight with Equifax the other day where they (supposely) disputed my credit limit with Amex, but refused to correct it. The representative's exact words to me was "we report what your creditors tell us to report." My response was "even if the information is inaccurate and damages my financial future." I got the same response repeated. I was also told I could contact the FTC. I would, but the government, the credit card companies, and the credit reporting agencies are all sleeping together so my complaint would be ignored like every other complaint I have sent. Dani
1/I didn't misunderstand it. I was right on the mark. 2/They have found a way disseminate the incorrect credit report info faster and more often. Another hard blow to Joe Customer. 3-this part most likely wont happen. QUOTE]Originally posted by breeze [ 1-Oh, no, you are misunderstanding the product. TU is marketing this to our credit card companies. 2-It is a service that notifies your card company of changes in your credit report. If your score drops, if you get a collection, a late pay, they will notify your card company, who has put an aoutmated response in place, such as reducing your credit line or raising your interest rate. 3- And if your score goes up, they can respond by raising your limit, or lowering your rate.. [/QUOTE]
Breeze, I'm not surprised this is happening. It leaves me with more and more of that creepy "big brother is watching " feeling. I'm like Dani. I can't wait to quit playing the game.
I think this is TU's attempt to compete with EX & EQF, they have most of the "big" card business and they are trying to attract customers with this, with everyone having their own "internal scoring system" this problably won't work anyway...just my opinion.
Unfortunately, I think it will work. The problem is that it may well backfire on the credit bureaus and the credit card companies. Customers are not treated the way they should be treated. Today, when you call and close an account you get "okay, it's closed." No, "is there something we could do to keep you or is there a reason you're unhappy with your account?" Nada. They treat you like you were just another account number. No incentive to keep you. Customers are only willing to be yanked so far, before they get to the point of "screw you". Unfortunately, there will always be customers for the card companies because there is always someone out there that thinks 33% interest and a $50 credit limit are worth something and they, themselves don't deserve anything better. Just my $.02. Dani
My Discover, Bank of America, First USA, and ATT Universal, all cut up to remove temptaion while I pay pay pay down balances. Do I win? -ingenue
Wow did I miss that one DOH. I guess my computer work all weekend made me just skim over it and not read it correctly.
This is really scary! And to think we just started trying to have credit, after years of no accounts!
