16 CFR Part 610 Amendments to Rule to Prevent Deceptive Marketing of Credit Reports and to Ensure Access to Free Annual File Disclosures #545091-00494

Submission Number:
545091-00494
Commenter:
Cheryl Thompson
State:
TX
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

#1 I suggest all credit reporting agencies be more closely monitored so that they are the same. How can my credit report vary from 680 to 740 among the 3? This variation cost me a 1/4% in interest rate when buying a new home. #2 All advertisements for "free credit reporting" should be clearly stated that they are private firms and not Government mandated. The disclosures need to be obvious-there is a cost to get all 3 agencies, make it extremely easy to "opt out" of future communications, not require a CC# just to receive the reports, and not mislead the public. I signed up for freecreditreport.com, and couldn't find out who to cancel the membership I didn't want in the first place because I had to join just to get 1 report, and never could get all 3 reports. #3 Keep the free credit reporting to be limited to government run only. Not allow others to get you credit reports unless it's boldly advertised there is a cost, and let you know there are free methods of obtaining these and direct you to the site. #4 The credit bureaus should make it easy to get reports from their websites without it being so difficult and to protest any items. #5 Why do we have 3 bureaus? Can't we have 1 (or at least get all 3 to get the same information?) How can they be so different? Wrong names, addresses, jobs, debts, etc. Then when we need to dispute, we have to dispute to all 3. Can there be a central dispute mechanism to dispute to all 3 instead of each one.