7 secrets your credit report won't reveal

You may think your credit report says everything about you to anyone who will listen. But here are 7 personal details its pages don’t divulge.

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134Comments
Dec 5, 2012 9:54PM
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The whole credit reporting industry is a scam.  Sure some people have bad credit.  I can't argue that but I know that my credit history is with hardly a blemish.  A recent credit check run by a bank reported to me was that my FICO score was 823.  Maybe I'm wrong but I heard 850 was the highest FICO score you could have.  I suspect that no one gets a perfect score.  I have no record of late payments.  My credit report shows all accounts marked paid as agreed.  I paid my 30 year mortgage off 20 years early.  However, the auto insurance industry continues to find fault with my credit worthiness.  My automobile insurance agent reported, as required by law, that I didn't get the lowest possible rates on a recent renewal because of information contained in a consumer report.  They specifically listed the "number of accounts marked paid as agreed (all of them are)" and no new auto accounts in the past five years.  Get this though, I get the safe driver discount because I haven't had any accidents in the 10 years I've been insured by them and I have nop points on my license.    However, despite that fact that I get the safe driver discount, I'm still considered  a high risk because of the information contained in the consumer report  which basically reports that I pay all my debts as agreed and I haven't taken on any new debt.  Oh yes, and my insurance account is automatically paid each month by electronic withdrawal by the insurance company.   What's there to dispute?  That I don't pay all my bills as agreed?  That the insurance company isn't being automatically paid?   The credit reporting agency dangles the image of a better consumer report in front of the consumers like a carrot in front of a horse.  Like it's really going to make a difference!  When I bought my house, the realty agent remarked that she had never met someone with such high credit scores.  Yet, the auto insurance companies, year after year, continue to report not giving me the best rates because of information contained in a consumer report.  What a scam!  I can't believe they get people to pay for those reports.  I know first hand that they are worthless.
Dec 5, 2012 11:41PM
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I've always understood that not having the highest credit says you're in the best situation. They want to see that you're paying your bills, but then again paying all those bills on all those accounts means you're probably in debt.  If everything is paid off and you're a person that lives within your means, the credit industry doesn't compute that degree of smartness and downgrades you accordingly.  What a joke the whole thing is.
Dec 5, 2012 11:48PM
Dec 6, 2012 12:24AM
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Credit bureaus are in the pocket of corporate America.  That is how they charge people exorbitant fees. Your credit does not define you. The credit bureaus need more regulation as they have too much power over people's lives and most of the negatives are incorrect reports from greedy collection agencies.
Dec 6, 2012 9:02AM
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"My credit's so bad they won't even take my cash!"

Dec 6, 2012 10:40AM
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The whole system torques me off.  I am told I have bad credit, but I can't do anything to make it better.  If I apply for a credit card, even with low limits, I get turned down.  I can't do anything to improve my credit.  I have lived the last 12 years with no credit cards, the only debt I have had in that time was a loan for a house and for cars off and and on.  In those years I have had 3 children.  I live with only what I have in front of me with no credit cards but I get punished for being able to do so.  Yes, I have made payments late.  But I have never had a vehicle repossessed or my home foreclosed on. 

On the other hand, I know people that have homes foreclosed on, vehicles reposed and/or filed bankruptcy and they can get cards and vehicle loans with no problem.  Please tell me how this is not a screwed up system.


Dec 5, 2012 11:25PM
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Medical debt - are you guy's smokin something? Dont pay your med-bills and they will show up on your report!
Dec 6, 2012 11:13AM
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My example is this:  My wife finds car she wants, goes to credit union & bank to apply for loan. Both places say her credit score is good enough, but house payment shows "behind" (it wasn't), and that they would need something from wells fargo (big time crooks) showing house payment is up to date, no problem, right?  Wrong, Wells Fargo  won't give anything saying the payment is up to date.  3+ months, a lot phone conversations with idiots, and truckload of frustration later, the "behind" status is fixed.  She goes back to bank & credit union, and neither will approve loan because her credit score dropped 12 points below the acceptable line since they ran credit last time (4 months before). The whole reason it dropped............... because of the Credit Union and bank inquiring about her credit worthiness 4 months before!!!!  Hows that for getting SCREWED!  And if you think inquiries don't have an effect on your credit score, think again.  They are not supposed to effect your score when done in a short time frame such as shopping around for best rates to buy house or car, but they do anyway.  Its all a scam, and a big one that you cant do anything about until enough people come together and demand something be done. 
Dec 6, 2012 9:09AM
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The credit checking system sucks, they and all lenders, insurance company's, business, banks they are all one bunch of scams.........It's T H E way for them to charge higher rates, on everything we the people try to get our hands on......One time my credit was excellent, I went to buy a new Toyota, they told me oh your credit has a little thing on it, so the rates would be 1 point more, I said forget it as I' am about to leave the guy told me wait let me talk to the manager and we'll workout something, believe me I got the best deal in town.......................It's all a S.. C.. A.. M...............................

Dec 5, 2012 11:25PM
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 If you have good credit "they want you". You pay all your bills on time and "they" make money from you. If you have mediocre credit "they want you" because "they" make money from all the late fees you pay. If you have bad credit "they want you because you will pay some of the original money,  you will pay a lot in late fees, and when you quit paying they make money by writing you off their taxes and tax payers foot some of the bill, as usual. Keep buying people, play the game.
Dec 6, 2012 7:46AM
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In the decades before the word 'credit' was used, it was called 'debt'. In that time, your wealth was determined by your ability to avoid 'debt' and was based on your ability to save. In the past six decades, the sociological re-wiring of our mindset has been completely inverted. We now not only still associate debt as bad, as we used to- but we do it at the same time that we base our actual 'worth' as a person on how good our 'credit' is. To help us to do this, we have been programmed to buy the marketed idea that not only is our worth as a person tied to how good our credit is, there is now an exact set of numbers to 'rate' our value as an individual. 

This does not mean that we hold a true value in money or in ourselves for handling it wisely, which would be to our benefit, but we use the credit score model to tell us how much we are worth as individuals, and it only works if we use it their way. 

It is interesting how fast credit scores became not only the most predictive factor in determining how someone would pay back a debt of any kind, but how history is now showing us how completely wrong they were in predicting this. 

Also, using these extremely accurate scoring models to predict the risk of a driver? Think of all the places your credit scores allow or do not allow you to do something. Then, pull back, stop and think. If you use money you already have when you go to purchase something, you will have the power. 

Of course we still need credit to buy certain things. Maybe a home. Probably not a car. Definitely not a nice, investment car. That might best be saved for later in life when you can actually afford to just go buy one. Credit cards may be necessary for car rentals, hotel rooms, etc. But many places are just going with the debit card and are finally just fine with it. Sure, it sets aside $200.00 for 5 days while you initially rent the car. But, they put it back when you bring the car back. Don't you have $200.00 in checking that you can stand to not have access to for five days? Right, I don't usually either. But, if we are ever going to 'unplug' ourselves from this truly scary model we have been programmed to buy as people who make up a great nation, then we are going to have to start somewhere. I'm going to start with having an extra $200.00 in checking - just in case. 

Credit scoring models have robbed us of our identity. Figuratively and, in some cases, literally. These numbers need to stop being used to rate our value as human beings. One should be able to sit down with a banker or a credit decision maker and explain what happened and why on their credit report. We are human beings. We are not the sum of our credit scores. 


Dec 6, 2012 9:44AM
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I am with the people who believe the Credit Companies are scams. Just who in the hell do they think they are. They are NOT the government and my Social Security Number is non of their F**King business - period.They are a virus in our society that need to be exterminated. 

I ripped up my credit cards 26 years ago and never regretted it.  I have a debit (new checking) card and I live just fine with all that I need or ever want. 

Credit companies started in the mid fifties in North Dakota as a sales gimmick for a furniture store to sell furniture and some guy thought; "Hey -- this would be a good scam to screw people, I'm going to start a for profit business".
Dec 5, 2012 11:57PM
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The only thing you should  have a note on is your house ....and if you can save and pay cash for that   do  it.
Dec 6, 2012 1:29AM
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Like anything else, it's great for the rich, but hell with us lower class people. Good scores or not
Dec 6, 2012 9:55AM
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Managing your finances correctly is learning about your credit score. You can pay cash for everything believing your being safe, until you need to rent an apartment, buy a house, get a nice car, get a good job, have a security clearance, have good insurance rates. Using credit wisely, to your advantage isn't going into debt. Knowing how to win at this game and not pay $300,000 more over your lifetime is just smart. Learn how FICO works, FICO not the other pretend scores that no one uses. Credit Karma is a scam, Free Credit Report.com is a scam. Experian credit score that consumers get isn't a true FICO, it's their own model, Vantage score is not used by anyone.
Dec 6, 2012 8:40AM
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I agree with some of the posts here.  Credit does not define a person, and credit bureaus need more regulation.  My husband and I have practically perfect credit, never late or missing bill payments. We wanted to co-sign a private education loan for our daughter.  I didn't qualify because I work a seasonal job.  My husband was laid off in 2009 (just like 75% of the entire construction industry) but went back to work in early 2011 (same Union, same line of work).  We still continued paying our bills, and we certainly met the income requirement.  But the lay-off was obviously detrimental to the credit report which disallowed the loan.  
Dec 6, 2012 7:46AM
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I think I was born with bad credit!!!

Dec 5, 2012 10:16PM
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 credit reporting industry is a scam and all the people behind this scam will get caught one good day just like the real estate banks and Mortgage company get caught lending money to people to by house  they don't care if they have a job to pay back the banks. But once the agent sell the house and every one who is involve make there money to hell was with the poor man or i may say the middle class and then the one who don't count you all know who i mean but my President Mr Obama would take care of you all just like what he did to all the big Mortgage brokers and lending banks I ask my slf what it is wall street have to do with any one buying a house. You all think wall street care about we "NO"  so lets hope it get better from here on
Feb 20, 2013 10:01PM
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Has anyone tried to call the 3 major reporting agencies? Guess what the person helping you on the other end of the phone is not even living in the US, the calls are routed to india! SO yes people...when trying to correct your credit information and think you are dealing with someone who actually understand how the system works you find yourself turning over all your personal information to a voice on the other end who does not even speak your language.

Thank you AMERICA

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