Government Free Credit Report Scores
2010
Why do we have to pay or our own credit score?
first let me say, I KNOW WE CAN GET OUR CREDIT REPORT FOR FREE ONCE A YEAR
and have access to it for 30 days or something
Just curious as to why we have to pay for our own credit information? I think this is absolutely ridiculous? we shouldn’t have to pay to get our won credit score and history… so why do we?
serious answers please. Nothing like “cause the government wants our money” i already know that!
The companies that give you the credit score are not part of the government. They are businesses with a product to sell….credit score. If you want that product, then you have to purchase it.
Every time a bank pulls your credit score to approve you for a loan – they also have to pay to get the score.
Your credit score is nothing more than the credit company (FICO, Equifax, Trans Union, Experian) opinion of you as a consumer. How this score is determined is different with each company. That’s why the score is different with each company. Since the score is their opinion of you…they are the owners of the score.
Here’s another way to think of it: when you go to the dr he takes notes about your visit. These make up your medical records. You are entitled to get a copy of those records when you change dr’s …but you have to pay a fee to get them.
The reason you get a free report once a year from each bureau is because the government passed a law that says the credit bureaus have to do that to help reduce identity theft. Your credit score is not needed to reduce identity theft. Therefore, it was not included in the legislation.
How to Pick a Mortgage : How to Get your Credit Score
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