eli@spdcc.COM (Steve Elias) (12/03/90)
In article <1990Dec2.201133.16224@eff.org> mkapor@eff.org (Mitch Kapor) writes: > > A word of warning about the TRW Credentials service. In my opinion it's >really a device for TRW to get you to voluntarily enahnce the quality of >their database. indeed, this is one of the functions of the TRW credentials service. in any case, the primary benefit of the service stands: it allows you to know with (some) certainty every time your credit database is modified or queried. i think this aspect alone is enough of a Good Thing for some people to subscribe. >Credit bureaus are a scummy business, if you ask me. no argument. it is a bit sad that one must "join em" in order to make sure that one's credit isn't getting unduly hosed. /eli -- /eli ; eli@spdcc.com ; 617 932 5598
jmc@DEC-Lite.Stanford.EDU (John McCarthy) (01/07/91)
I just received a brochure inviting me to be a charter member of the above. If I pay them $39 per year, I will get 1. a copy of my credit report, updated whenever I request 2. notification when anyone asks for a copy 3. the opportunity to put my financial data into their computer, to be given only to people to whom I give a "passcode". I can quit at any time, e.g. after getting the initial credit report, which would then have cost me $3.25. The pitch is that it will help me shop for credit. This is what many consumerists have argued for, except that the consumerists would doubtless like it to be free. As the saying goes, now that the principle has been established we are reduced to haggling about the price.
cyberoid@milton.u.washington.edu (Robert Jacobson) (01/07/91)
If you're ever denied credit, you can have the report for free. And if you just want a copy, you can purchase it at less cost than joining the Credentials program. No principle has been established: those rules were legislated by the Fair Credit Practice Act way back when. Bob Jacobson
dupuy@cs.columbia.edu (Alexander Dupuy) (01/08/91)
jmc@DEC-Lite.Stanford.EDU (John McCarthy) writes: > 3. the opportunity to put my financial data into their computer, > to be given only to people to whom I give a "passcode". > > I can quit at any time, e.g. after getting the initial > credit report, which would then have cost me $3.25. The pitch > is that it will help me shop for credit. Actually, they already have your financial data in their computer (where do you think they got your name and address from?) and will release it to anyone who has your signature on a credit application (and pays a fee) or is a competent enough hacker to break the TRW system (this once was reputed not to be too difficult; I don't know about current security). The passcode is simply a way to speed this up, and allow you to shop for credit on the phone, for example. Unless you are shopping for a home mortgage or other major loan, the Credentials service probably isn't worth your money. If you want to see your credit statement, just apply for credit which you know you will be refused (underreport your income if necessary) - when you are turned down, you will be entitled (in most states) to a copy of any credit reports which were used in the credit evaluation. This usually includes TRW, and may include others as well. @alex -- -- inet: dupuy@cs.columbia.edu uucp: ...!rutgers!cs.columbia.edu!dupuy
selmer@hpcuhc.cup.hp.com (Steve Elmer) (01/11/91)
The sad part about all this is that after filling out their form they have a lot more data about you to put into their greedy little customer's hands...