|Received:||11/23/2004 7:55:24 PM|
|Commenter:||Randi Ann Curb|
|Agency:||Federal Trade Commission|
|Rule:||Advance Notice of Proposed Rulemaking, Request for Comment|
|Docket ID:||RIN 3084-AA94|
Comments:To the FTC Commission, re: Fair and Accurate Credit Transactions Act of 2003 - Fair and Reasonable Fee for Credit Score Disclosure Credit Scores have become one of the most important topics of consumer life. And with that comes a time when you really have to KNOW exactly what it is. I have always felt like it is some big secret because no one wants to step forward and tell you how it is figured. Play at being a regular person for one night and hit the internet and google myfico and try to find out how they figure the score. You will then learn that you have to play games with creditors to raise your score, sue for inquiries for non permissible purpose and ask credit reporting agencies for thier procedures used to verify the imformation that your consumer life hindges on. This is becoming a hardship not only on the consumer but also on our already overcrowded court system due to the suits being filed based on the laws you are passing. We as consumers need monetary relief from the expense of finding out our all important score. My comment is that the consumer pays NOTHING. It is unreasonable to ask a consumer to pay for this score when the consumer can not find out any reasoning of how the score is computed. The consumer is also at a big disadvantage because any "creditor" can put something on your report in a matter of seconds and the consumer has to take time out for months to get it removed. They do not have the same access and the system is not fair. Imagine for a minute that you need credit for any reason this week. You really have to check your scores at $38 before you even apply because the way the system is a creditor can put anything there without notice. Now next month you need credit again and another $38. And 4 months later another $38. Remember one score just doesn't work any longer. And you can't NOT check because that inquiry and denial will lower those pecious scores several points. Again a fair and reasonable fee for an unreasonble and unfair system controlled by businesses is ZERO! Anything more than ZERO for access of a now a days consumer necessity is unreasonable, unfair and simply unjust! This myfico has reduced all americans down to a credit score number and for that I find unreasonalbe!