16 CFR Part 610 Amendments to Rule to Prevent Deceptive Marketing of Credit Reports and to Ensure Access to Free Annual File Disclosures #545091-00393

Submission Number:
545091-00393
Commenter:
James Lex
State:
OH
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

In addendum to my previous comment, I would like to point out how unfair it is to not have a free, year-round option to look at your credit report. Credit is something that is required to do almost anything these days. You need it for loans, rental applications, and cell phone contracts. Even employers are checking people's credit reports before hiring them. To force someone to pay to see their report with no always-free option, nowadays, is not fair to Americans. The fact that we are paying for a product that we, ourselves, have to regulate has never sat well with me. We pay this money to the credit bureaus, but...what are they doing with the money if not to ensure that our information is correct. We're expected to constantly monitor our reports to make sure they're corect, but we can't if we can't afford to pay to see it. Is there any other product where a consumer would accept that as a term of payment? Credit reports are OFTEN incorrect in some form or fashion. If you look at your credit report in January and something is added in March incorrectly, you either need to wait the whole year to realize that your score was impacted by that or you need to risk signing up with one of the "free" credit report sites and hope you are able to unsubscribe before you're charged for the monthly fee. If we are going to be forced to handle our credit situations on our own, we NEED to have a permanently free option. And, I'm not talking about one free look a year. We need to always be able to look at our credit reports for free.