16 CFR Part 610 Amendments to Rule to Prevent Deceptive Marketing of Credit Reports and to Ensure Access to Free Annual File Disclosures #545091-00340

Submission Number:
545091-00340
Commenter:
Leslie Lawton
State:
FL
Initiative Name:
16 CFR Part 610 Amendments to Rule to Prevent Deceptive Marketing of Credit Reports and to Ensure Access to Free Annual File Disclosures

The tactics employed are very misleading. I was also duped into and forced to pay for one month of credit monitoring service that I didn't want or ever agree to. However, let's not forget deceptive practices regarding credit SCORES. I recently received my FREE credit report from the gov't website. I also went on to purchase for ~$7.00 my CREDIT SCORE. What they sell you is useless. It is NOT the FICO score that lender's use. This is a very MISLEADING practice. Most people (including me) have no idea that agencies create (and try and sell) their own scores. Consumers are ONLY interested in scores used by lenders. This is the FICO score. Since no one is aware there are different scores, agencies should have to clearly state "THIS IS NOT YOUR FICO SCORE WHICH IS THE SCORE EMPLOYED BY MOST LENDERS". Or agencies should have to furnish whatever score they are providing lenders. If they ONLY provide FICO they should only sell to consumers FICO. If they only sell their own brand, then that's what they should also provide lenders. If they provide both (or multiple scores), they should provide you multiple scores thru the gov't website link. Thank you for the opportunity to comment. Good luck.