This was an interesting article I read this morning and it hit a nerve with me. Make sure and take a look and read some of the comments. It made me realize that I am not the only one who has experienced it.
My credit scores have always been very good., and they still are! Funny thing is that here recently, I was charged a high interest rate because they stated that my credit score was not high enough to qualify for their "best" rate. I didn't even take the time to dispute it or look into it further, I just went with another institution that gave me the rate I deserved.
Just like the guy who stated a car dealership told him his score was almost 100 points less than his recent credit report showed it. He stated that they "manipulate the numbers", and recommended that you take a copy of your report with you if you intend on applying for credit. He also stated that we should be able to see our credit scores for FREE, anytime we desire. I agree! These credit score companies make millions of dollars selling OUR information, yet we don't have access to it ourselves?
Yes you can get ONE free report per year but as the article states, "you should check your scores frequently". So I guess we need to pay to get our own information, while these companies make money off it and are possibly using incorrect or manipulated information?
The article also states that "your credit score can be a moving target", and minimum scores have been inching up steadily in recent times. "Four out of ten" Americans will not qualify for a home or auto loan currently, and the minimum scores to obtain decent rates are on the rise.
Hmmm,.......wasn't all that bailout money our politicians threw at these big banks supposed to "free up" credit? That's the explanation I remember hearing! Just more of the same old, same old BS. American Big Biz's greed being fed by our infamous government officials at OUR EXPENSE!
More in the book: "American Me?". www.americanmeus.com
Check out the Forbes article below: Another real EYE OPENER!
http://finance.yahoo.com/banking-budgeting/article/113367/new-credit-score-rules-forbes?mod=series-m-article-c
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