|Received:||11/4/2004 3:57:09 PM|
|Agency:||Federal Trade Commission|
|Rule:||Advance Notice of Proposed Rulemaking, Request for Comment|
|Docket ID:||RIN 3084-AA94|
Comments:There should be no charge to access ones own personal credit score electronically. Credit agencies already charge financial institutions a fee to access credit information. The databases, infrastructure, collecting and reporting costs are 100% covered through fees to financial institutions. Therefore there is little to nil actual cost for credit agencies to provide access to the data on-line for consumers. I imagine that the biggest complaint by these agencies is that they will be losing a current revenue stream of charging consumers a fee. In fact if they were not a monoply they would not have been able to get away charging a fee in the first place. In a competitive marketplace, this would have been offered free to the consumers - just look at how many banks offer free on-line services.