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The experienced columnists and reporters at USA TODAY give you the news you need and advice you trust. Temple, an accountant, surfed to TrueCredit.com, a popular website owned by TransUnion, one of the Big Three credit bureaus.
There she purchased her TransRisk credit score, TransUnion's assessment of her credit worthiness. Temple thought her score 608 was just high enough for her to qualify to buy a $207,000 home in a gated community in Holiday, Fla. WATCH OUT: Typos can lead you to imposter credit sites "I was so excited," credit check free online Idaho says Temple, who signed a purchase credit check free online Idaho agreement with her fianc. The mortgage company, it turned out, judged Temple, 33, differently. It looked at her FICO score, the credit check free online Idaho assessment widely used by lenders, based on a formula supplied by Fair Isaac.
Temple's FICO score was nearly 100 points lower than her TransRisk score.
"Needless to say, we had to back out of our contract," she says. Temple didn't know that TransUnion and the credit check free online Idaho other bureaus are trying to wrest control of the credit-scoring market from Fair Isaac. She had no way of knowing the credit check free online Idaho competing scores differed. check your credit score Confusion awaits any consumer credit check free online Idaho who dares tread online in search of a credit score, personal finance experts say. "It's one of the biggest rip-offs you can find," says credit consultant John Ulzheimer, author of You're Nothing But A Number: Why Achieving Great Credit Scores Should Be On Your List of Wealth Building Strategies. Consumers are also getting credit check free online Idaho tricked into paying for basic credit reports before obtaining the ones they can get credit check free online Idaho free, as mandated by the federal government credit check free online Idaho in 2003. The only place those free credit check free online Idaho reports are available is at AnnualCreditReport.com, run jointly by the Big Three (Experian, TransUnion and Equifax (EFX)).
Yet, dozens of websites affiliated with the bureaus falsely imply that they can also distribute the government-mandated free reports.
At FreeCreditReport.com, ConsumerInfo.com, PrivacyMatters.com, Free3BureauCreditReport.com and other credit check free online Idaho similarly named websites, free trial offers and package deals abound. my annual free credit report The most ubiquitous: pitches credit check free online Idaho for free credit reports and free credit credit check free online Idaho scores if you subscribe to a "credit monitoring" service that alerts you each time a lender checks your credit history, says credit check free online Idaho Robert Mayer, a University of Utah professor who has analyzed two dozen such sites for Consumer Reports WebWatch. "The word 'free' is used so freely that it credit check free online Idaho really has no meaning in the context credit check free online Idaho of these types of sites," Mayer says. The profusion of websites hawking credit reports, credit check free online Idaho credit scores and credit monitoring to consumers have one thing in common: They all sell data supplied by the Big Three. The bureaus are the drivers behind a blizzard of consumer promotions for credit reports (a record of how you pay credit check free online Idaho your bills); credit scores (a calculation of credit check free online Idaho your creditworthiness, based on your credit report); and credit monitoring (a monthly subscription service, credit check free online Idaho which credit experts say is of marginal value). Thanks to the Fair and Accurate Credit Transactions Act of 2003, each bureau must supply every consumer with one free credit report a year. But while meeting the minimum requirements of this federal mandate, the Big Three have been energetically tapping online shoppers for hundreds of millions of dollars of fresh revenue and profit. check credit By selling credit data via websites that use "free credit report" and "free credit score" as inducements to sign up for credit check free online Idaho credit monitoring, which has become a cash cow. No surprise that the vast matrix of websites pitching credit data to consumers engenders befuddlement.
Even industry insiders say credit check free online Idaho it's all too easy for consumers to get flummoxed. "There should be more education about what you receive and how to navigate the various sources of information," says Mark Catone, senior vice president of First American Credco, which processes credit reports. Experian, for instance, sells to consumers at Experian.com and at six other sites.
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