experian: New Credit Score Scam Troubles Officials...
- 06/09/07 11:47 AM
Federal and state regulators say it's one of the fastest-spreading new scams in the mortgage market: Internet-based companies that artificially raise loan applicants' FICO scores by 50 to 200 points by implanting credit accounts of consumers with outstanding payment histories into the credit files of borrowers with low scores and bad payment histories. Worse yet, officials say, the companies may not necessarily be breaking any law themselves, even though their clients may be committing fraud. Here's how it works: Say you want to buy a house but your FICO score is subprime -- a 580 mid score. You sign up with … (5 comments)
experian: Free Credit Report… Fact or Fiction?
- 10/14/06 12:52 PM
Under the provisions of federal consumer law, consumers may obtain a free credit report from one or all of the big three credit reporting companies by visiting http://www.annualcreditreport.com/ Beware of other websites offering “free credit reports” which include : Experian | http://www.freecreditreport.com/ One of the largest credit reporting firms, that offer the reporting service in hopes that consumers will subscribe to a credit report monitoring service for a monthly fee. Some of the other popular sites include: FreeCreditReportSource.com, FreebieCreditReport.com, FreeCreditReportsInstantly.com, and many other similarly named websites that will "give" you a "free" credit report, but with the intent of selling you … (4 comments)
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Federal and state regulators say it's one of the fastest-spreading new scams in the mortgage market: Internet-based companies that artificially raise loan applicants' FICO scores by 50 to 200 points by implanting credit accounts of consumers with outstanding payment histories into the credit files of borrowers with low scores and bad payment histories. 
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