Do you think credit reports are really fair?
Posted in Other - Business & Finance on 01/05/2009 04:32 am by admin
Wendy P asked:
Do you really think its fair that blemishes, caused by a late payment(s) that occurred 6 years ago should still appear on your credit report? My credit report shows I had credit cards from specialty catalogues that I never even used from 6-8 years ago. The accounts are long since closed. It seems ridiculous that these even still appear on my report. And if creditors are going to use my report to deny me credit, shouldn’t all creditors be required to report once a month to each of the 3 major credit companies the status of all accounts held by them? For example, my lending institution for my vehicle only reports to one of the credit companies. That company shows I have a favourable credit score yet the other two give the appearance that I have poor credit.
RUSSELL
Do you really think its fair that blemishes, caused by a late payment(s) that occurred 6 years ago should still appear on your credit report? My credit report shows I had credit cards from specialty catalogues that I never even used from 6-8 years ago. The accounts are long since closed. It seems ridiculous that these even still appear on my report. And if creditors are going to use my report to deny me credit, shouldn’t all creditors be required to report once a month to each of the 3 major credit companies the status of all accounts held by them? For example, my lending institution for my vehicle only reports to one of the credit companies. That company shows I have a favourable credit score yet the other two give the appearance that I have poor credit.
RUSSELL