|Received:||12/6/2004 8:13:45 PM|
|Agency:||Federal Trade Commission|
|Rule:||Advance Notice of Proposed Rulemaking, Request for Comment|
|Docket ID:||RIN 3084-AA94|
Comments:A credit score should be treated the same as a credit report. It should be free for all people at least once a year. With the high percentage of inaccurate information on credit reports from all 3 agencies, and the fact that there are 10 million identify thefts each year, a person's credit score is directly related to the information on the credit reports. It affects your ability to get insurance, get a job, or get an advantageous loan rate. Just as a person is entitled to receive a free corrected credit report, one should also be able to see the corrected credit score for free. We cannot assume that a credit score has been corrected just because a credit report has been corrected. I live in New Jersey and check my reports once a year. I am appalled at the number of errors on it every year. A co-worker trying to get a mortgage found out that his cousin, with the same first and last name, but different middle initial and different social security number, was combined into her report with a great deal of negative information. That information affected her credit score. It took quite a while to straighten that out so she could get a mortgage. She needed to know that the credit score was corrected also. A relative was a victim of identity theft. That was another nightmare with the credit agencies. A credit score fee would be a windfall for agencies that do a horrendous job of keeping information accurate. There is no reason to believe that the same problem doesn't exist with credit scores. Make then free.