| Comment Number: | OL-100140 |
| Received: | 12/17/2004 12:20:44 PM |
| Organization: | |
| Commenter: | Michael Bytnar |
| State: | IL |
| Agency: | Federal Trade Commission |
| Rule: | Advance Notice of Proposed Rulemaking, Request for Comment |
| Docket ID: | RIN 3084-AA94 |
| No Attachments |
Comments:
If controls and regulations are placed on a monetary amount for this "score," then provide a free, public-domain formula to calculate the score. The formula must have a complexity at a level equivalent to average citizens filling out an IRS form, so one may methodically calculate their own score. Credit holders are judged using the credit score. An average citizen can better understand their financial/credit situation with this score. A typical credit report without a score is not useful for identifying problems with, or how to improve one's credit situation. A credit report without a credit score places large amounts of credit history and information in the hands of a layman, without any reference or guide for interpretation. The credit score must become an integral part of every credit report. Thank you for your consideration, --Mike