|Received:||1/1/2005 11:14:29 AM|
|Agency:||Federal Trade Commission|
|Rule:||Advance Notice of Proposed Rulemaking, Request for Comment|
|Docket ID:||RIN 3084-AA94|
Comments:The fees that the credit bureaus are charging for your consumer score are downright outrageous. Consumers are being ripped on a daily basis for these scores which are absolutely worthless. These scores being sold in NO way represent the consumers true scores using the FICO and other scoring models. My recent experience is this: Paid around $20, in addition to the report costs from each bureau. Scores that were provided to me were: Experian 728- When pulled by my mortgage lender 681 Equifax 756 -When pulled by my mortgage lender 756 Transunion 712 -When pulled by my mortgage lender 680 I was led to believe that my my middle score was 712 by the bureaus account, when in fact, it was 681. This makes a HUGE difference in mortgage rates as well as insurance rates, etc. etc. I have no problem paying ONE fee for all services offered by each bureau, as long as what I am purchasing is 100% accurate as to what my lender will see, when I walk into thier office and fill out a credit application. The current sale of consumer scores by the major bureaus is downright fraud. The sale of these FAKE scores, that no lender uses, should be BANNED!