The FACT Act of 2003:  Notice and Request For Public Comment On the Effects of Credit Scores and Credit-Based Insurance Scores on the Availability and Affordability of Financial Products #514719-00028

Submission Number:
514719-00028
Commenter:
Tom Rzonca
State:
Pennsylvania
Initiative Name:
The FACT Act of 2003:  Notice and Request For Public Comment On the Effects of Credit Scores and Credit-Based Insurance Scores on the Availability and Affordability of Financial Products
I have been tracking my credit scores for the past 4 years or so. At first, there were many errors. I learned about the FCRA and how to get any errors corrected. My reports have been mostly free of errors for about 2 years. I have 3 recommendations: 1. Credit card companies should be REQUIRED to post credit liimits. Capital One is in gross violation of the FCRA by NOT reporting credit limits, and thereby NOT reporting ALL information regarding their accounts. 2. Better delineation of inquiries. In the event of moving, for example, why should I be subject to hard inquiries to establish utilities at a new address? Perhaps a notation of Utility Service Inquiry would work. 3. Credit-based insurance scores should be ABOLISHED and OUTLAWED! What does credit have to do with driving safely?