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Fair Isaac credit reports with the FICO scores (myFICO.com)
 Moderated by: Christine
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 Posted: Thu Dec 7th, 2006 02:27 am
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Christine
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It's great to get a report that shows what LENDERS get.  However, Fair Isaac COULD add the information NOT disclosed to the end of the report.

Missing data:

All SOFT inquiries (promotional, collection, account review, consumer disclosures)

On Equifax reports, the NAMES of the collectors.  A cryptic code is displayed instead of the name.

Creditor and collector contact information

The TYPE for hard inquiries (as used by FICO scores to deduplicate mortgage and auto inquiries)

PERSONAL data - myFICO reports fail to disclose most address and employment data



 Posted: Tue Feb 13th, 2007 05:44 am
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Bearwolf
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How does one go about getting a "complete" credit report showing "all" reportable information to businesses?  Is there a definitive report in conjunction with cyphers explaining the coding of other pertinent information as well?  How do you know for sure you are getting a complete file?  Thanks!



 Posted: Tue Feb 13th, 2007 05:46 am
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Bearwolf
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Do you have a list of all Government Official's both email and regular mail to start hammering away at getting some answers on these issues?

Last edited on Tue Feb 13th, 2007 05:46 am by Bearwolf



 Posted: Wed Feb 14th, 2007 11:12 pm
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Christine
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I just realized that this forum software is not very functional, I can't even move postings.  So I reposted your question regarding contact info at http://creditlegislation.org/activists/forum4/15.html


How does one go about getting a "complete" credit report showing "all" reportable information to businesses?

That's not doable unless you order your various reports and personally provide them to the businesses.

Of course that would be a waste of time, they don't want to look at your credit reports, they push a button, get your credit score and that's it.


Is there a definitive report in conjunction with cyphers explaining the coding of other pertinent information as well? 

 

I'm not exactly sure what you're asking for, the coding is explained in the CDIA credit reporting MANUAL:

http://creditsuit.org/credit.php?/blog/comments/the_credit_reporting_instructions_for_creditors_and_collectors/

That's the bible for credit reporting and it's not exactly easy to understand, especially since each credit bureau uses DIFFERENT field labels.


How do you know for sure you are getting a complete file?  Thanks!



 

You really need several reports to get at least almost all info.

Generally, the reports obtained from the CRAs directly contain the most data, especially with respect to personal data such as names, addresses, etc.

But I also documented that Trans Union reports late payments to Fair Isaac that are NOT reported on its consumer disclosures.

The tri-merged reports sold by ConsumerInfo.com (Experian owned) contain the coding for the inquiries and the cheapest way to get that info is to order the 2 months $1 trial at http://www.privacyguard.com/ -- don't forget to cancel.  This report is VERY incomplete, but it does contain the type for the inquiries.

Congress should mandate that the CRAs start using an identical format for consumer disclosures.   After all, the CRAs all use the SAME eOscar system to collect the data.  It is incredibly confusing for consumers to have to learn to read THREE different reports.

As a matter of fact, the CRAs even use DIFFERENT formats for online and snail mailed reports, they do whatever they can to make it more difficult for consumers to analyze the data.

Practically, the way to get a change is to have the FTC oversee the design of a "universal" complete consumer disclosure to be used by the CRAs.  And of course it needs to contain all data, including all information utilized by Fair Isaac's and any other credit scoring software.

Realistically, the people at the FTC don't seem to be smart enough to get that done, they haven't even figured out that it's a problem.  

Should LEGISLATORS be in charge of designing the format for consumer disclosures?  



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