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My dog is cooler than you
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566 Posts
Discussion Starter #1
When you apply for credit, most companies pull a score from Experian, Transunion, and Equifax. They look at your score and your data. You are entitled to see that data as well but apparently, law doesn't require those guys to show your score. So Experian won't show it to you. This number that is integral to your being able to get financing for anything from a Best Buy credit card to your next house is now data that you can't see.

So here's my response. When going to apply for a loan, make it plain that you won't accept a loan that uses Experian data. Most of us aren't loan shopping right now anyway but if you are- make an effort to avoid using Experian data. If they won't let you see it, don't let anybody else see it.
 

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Time for change
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6,868 Posts
Bro, it's up to the institution to decide whom they wish to use. If you say, "I won't allow you to use this"

They say, "You don't need our money then"
 

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Champagne Papi
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5,690 Posts
Your first mistake is having a best buy credit card. I don't understand why people have more than 2-3 credit cards. My sister has one for Chevron, Macy's, Norstrom, Bloomingdales, Sears, B of A, Wells Fargo, B of A, Citi, WAMU, Discover, AMEX, and like 4-6 other ones.



I have 2 credit cards, I might have the Bank of America Carbon Fiber AMEX later this year. But My cards limits are enough for me to buy whatever the fuck I want. And it looks good on your credit to keep it clean and simple. Make your life simplier dude.



As of yesterday I am officially a home owner.
 

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My dog is cooler than you
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566 Posts
Discussion Starter #5
I don't have a BB card. I was stating that as an illustration of the lowest form of credit...

And congrats on the house, dude! You got a thread up with pics and the like? I remember you had a thread asking for information, what to look for, what to plan for etc a while back. Would love to see what you got.

Beau- I'm saying that you then say, "Damn right- I'd rather get it from a bank that gives a shit." Banks make money by loaning money.
 

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Time for change
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6,868 Posts
I don't have a BB card. I was stating that as an illustration of the lowest form of credit...

And congrats on the house, dude! You got a thread up with pics and the like? I remember you had a thread asking for information, what to look for, what to plan for etc a while back. Would love to see what you got.

Beau- I'm saying that you then say, "Damn right- I'd rather get it from a bank that gives a shit." Banks make money by loaning money.
Ahh, I'm followin.

I think the reason why they aren't required to give it out, is because it costs that institution money to run that credit, and they won't be used to run credit even if inquiries are derrogatory in large quantities on the CR.
 

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My dog is cooler than you
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566 Posts
Discussion Starter #8
Here's the thing, they're required by law to give you the report- anything that impacts your credit is on there from debt:income ratios, major changes in available and used credit etc etc etc. That's the weighty stuff and that's what they give you. But the math they use to create those numbers is pretty mystifying to... everybody. Because of that, when you go to a dealership, they look at the credit score almost exclusively. If you have a 600, they don't care that part of it was something from 6 years ago that in a month will fall off and your score will jump- they just see that right this moment you have a 600. It's more akin to a car company telling you about the drivetrain and chassis of a car but not letting you see what the car LOOKS like... So yeah. whatever. I fall back on my usual response to these things- "Fuck those guys."
 

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2turbos1supra
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1,614 Posts
As of yesterday I am officially a home owner.
Nice, congrats!

I saw in the news last night that there was this lady with over 100 cards, all maxed out and making late payments. I think she singlehandedly broke wall street.

How she was still being approved despite her shitty credit, i have no clue.
 

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Ludicrous speed! GO!
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959 Posts

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My dog is cooler than you
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566 Posts
Discussion Starter #12
By law they have to disclose to you why they've turned you down.
yep. But that doesn't allow you to do anything proactive. Before buying our house we pulled our detailed credit reports and looked for anything that might drag it down. Without knowing what it is, you can't be sure what they're going to see. You get to find out after being turned down.
 

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Time for change
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6,868 Posts
I agree with you, the credit reporting agencies are a welcome monopolistic scam. Yeah there are a few choices, but you HAVE to have it.

Kind of like college.
 
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