Tell HN: Things I Learned about Credit Bureaus This Week • Hacker News Board

Re: Tell HN: Things I Learned about Credit Bureaus This Week

#11

Post by SwellJoe » Thu, Jun 04, 2015, 6:30 PM UTC

anigbrowl wrote: post #2

I would welcome seeing this extended into a larger and more detailed article, or even a series of articles. Usually I'm a little skeptical of complaint stories because they often strain credulity but you seem to have approached this in a patient and methodical manner.

That's part of why the credit bureaus and banks in the US have such incredible power. People tend to believe the calm and faceless large organization over an angry individual ranting on the Internet. Surely, the law wouldn't allow someone to be treated so poorly by corporations? And, yet...abuses are so pervasive that I am gradually beginning to think even the most ridiculous sounding horror stories about credit are believable.

Re: Tell HN: Things I Learned about Credit Bureaus This Week

#12

Post by jaworrom » Thu, Jun 04, 2015, 6:30 PM UTC

Anybody want to tackle this (seemingly large) problem that we have with credit bureaus? I'd be more than happy to try and dethrone the credit bureau beasts with a new, helpful, transparent service that folks actually enjoy.

Re: Tell HN: Things I Learned about Credit Bureaus This Week

#13

Post by gesman » Thu, Jun 04, 2015, 6:31 PM UTC

Describe your experience in details and post it in public and visible blog. Also twit about - in other words - let the whole world know about this.

With all the recent privacy buzz - this may attract necessary attention to shake out this swamp.

Re: Tell HN: Things I Learned about Credit Bureaus This Week

#14

Post by joshstrange » Thu, Jun 04, 2015, 6:34 PM UTC

gesman wrote: post #13

Describe your experience in details and post it in public and visible blog. Also twit about - in other words - let the whole world know about this. With all the recent privacy buzz - this may attract necessary attention to shake out this swamp.

This a great advice but it's a fucking shame that this is the ONLY resource many people have against credit bureaus and large corps in general. The number of times I tried traditional support to no avail and got a response to an angry tweet minutes/hours after posting makes me sick.

Re: Tell HN: Things I Learned about Credit Bureaus This Week

#15

Post by rglover » Thu, Jun 04, 2015, 6:42 PM UTC

totalrobe wrote: post #5

You're not the customer. You're the product.

Bingo.

Re: Tell HN: Things I Learned about Credit Bureaus This Week

#16

Post by stevewepay » Thu, Jun 04, 2015, 6:47 PM UTC

The credit bureaus simply don't care.

I had my identity stolen and then bad information was mixed into my account information. It took years to get things straightened out.

Even to this day, years later I can't do any online credit verification because it has data mixed with it from the credit bureaus, and I routinely get answers wrong because of this. But there is no one I can complain to, especially for these online data tests.

The best way to get something done is to do a proposition in states that support it, like California, and get a law voted in that forces better behavior from the credit bureaus. Then, because California requires it, chances are change will occur throughout the country.

Re: Tell HN: Things I Learned about Credit Bureaus This Week

#17

Post by jyu » Thu, Jun 04, 2015, 6:48 PM UTC

Request a credit freeze or a security freeze from the credit bureaus. This prevents entities from accessing your credit report without you lifting the freeze.

This stops a lot of the low hanging identity theft cases.

http://www.consumer.ftc.gov/articles/0497-credit-freeze-faqs

Re: Tell HN: Things I Learned about Credit Bureaus This Week

#18

Post by [deleted] » Thu, Jun 04, 2015, 6:55 PM UTC

totalrobe wrote: post #5

You're not the customer. You're the product.

[deleted]

Re: Tell HN: Things I Learned about Credit Bureaus This Week

#19

Post by c4n4rd » Thu, Jun 04, 2015, 6:55 PM UTC

I have no business dealing with "credit bureaus". I did not give them my information or consenting for them to store my information on their system.

So, I have been told constantly to "correct" my information with them - FUCK THEM! They bought/stole my personal information - I have no business with them.

Call me naive, but I wish more people would not give a damn about them either.

When I needed a loan to buy my house, I spoke directly to the loan officer face to face and told showed them all documents they needed and told them that if they need to consider my approval based on "Credit Score", I did not care.. I showed them the mistakes and mis-information they have in my credit report and -when he asked me to call them to fix it - I told him that I would not do that because I do not consent them holding my information. Two days later, the load officer called me to tell me my application was approved.

People need to do this more often.

Re: Tell HN: Things I Learned about Credit Bureaus This Week

#20

Post by [deleted] » Thu, Jun 04, 2015, 6:56 PM UTC

stevewepay wrote: post #16

The credit bureaus simply don't care. I had my identity stolen and then bad information was mixed into my account information. It took years to get things straightened out. Even to this day, years later I can't do any online credit verification because it has data mixed with it from the credit bureaus, and I routinely get answers wrong because of this. But there is no one I can complain to, especially for these onlin…

[deleted]