I have to admit as someone with a less than ideal credit score because of someone else’s handling of finances; it would be terrible for me as an outstanding and ideal associate to lose my job or be denied a promotion or raise for something that just isn’t even corollary to my work performance.
It’s like saying…“We like both John and Jim for the job they both have fantastic qualifications and education and experience. It’s neck and neck! But you know, Jim’s wife is really much more attractive than John’s wife. Clearly Jim will be better at the job.”
Like DAFUQ?! Why would that matter at all?!
Talk about something left over from the last century, credit reporting is flawed beyond any reasonable comprehension.
I am boggled that this crap is still going on after decades of knowing that it’s a problem. All it would take is a requirement that companies that provide data be held liable for the accuracy of the information they provide.
Oh wait, that would require regulations, and the god of libertarianism has spoken: regulations are always bad. So nothing can be done. Ah well, it’s not as if any of the people impacted by such mistakes are important. Nobody needs to see the credit reports of the plutocrats who actually run things, after all.
Credit reports are also inaccurate because they report things that are not really relevant and attach it to your score. I lost my I.D. and a credit card on holiday and when I called it in the company decided to shut down the account and transfer everything to a new account. Nobody tried using my card, so alls well that ends well?
No. My credit report (and spouse’s) was dinged twice because the company shut down our account–which was the only thing to do–and opened a new one. It’s truly ridiculous.
Thank goodness I’m part of the 95%. I sell insurance, and I’ve probably been through ten background checks. These companies could bring my career to a screeching halt, just by switching Tuttle with Buttle.
I’m in the same boat. My credit score sucks big time and I always worry that I’ll be denied something due to it. The whole system is crap since it’s just a made up number that doesn’t reflect real life at all.
His historical review does suggest huge improvements over the years. In the 90s, it was a third of reports that contained serious errors. In 2008, only 25% contained errors that could affect your ability to get a loan. Now, is down to 5%. Good job reporting companies.
One of the three agencies had me dead for years (because of my late father, who has the same name).
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