[Noisebridge-discuss] Bringing Down the Credit Bureaus

[Christie Dudley]

A couple of things:
1) I don't see any recognition of "good" credit.  This is reported on your
credit rating too, after all.  It's very important to everyone involved.

2) One thing that's not included in the portion of your credit report that's
given to you, but is given to potential creditors is your arrest record.
 Landlords especially like to see this.  It's a horrible thing to have,
considering it's not something that's reviewed for accuracy by anybody and
you have no rights regarding it's contents ("Because it doesn't matter,
right?")

3) All of the current credit bureaus share information, so the creditor has
the most complete, accurate information to make a decision on.  How could
this system work with existing systems?  It seems to me that it would
require all creditors in the world to subscribe at once, which simply isn't
likely, or even possible.

Christie
_______
Getting to the bottom of the hill is convenient. The view from the top of
the hill is stunning. Where would you choose to live?


On Wed, Jan 6, 2010 at 6:47 PM, dpc <weasel at meer.net> wrote:

> Brian Molnar <brian.molnar at gmail.com> writes:
>
> > Imagine the following scenario:
> >
> > *You apply for a credit card, and with the information you provide in the
> > application, the bank finds your online profile and sends you a request
> to
> > view (read-only) it. You get the request, approve it, and soon the bank
> uses
> > that information to figure out your credit limit. Once they decide to
> issue
> > you a card, they send another request to gain access that allows them to
> > make claims against your account, which is a pre-requisite for them to
> issue
> > you a card.
> >
> > Then, say, after a couple months you fall behind on payments and they
> decide
> > to try to ding your credit, then they would issue a claim ith the service
> > and you'd immediately get a notification telling you that you have 10
> days
> > to settle the claim with the bank before it posts to your profile. You
> call
> > them up, arrange a sufficient payment and they cancel the claim before it
> > posts.*
>
> a small thing...
>
> i think that banks/lenders would have an issue if the claim was
> cancelled entirely on payment (not even as a note or something). i can
> see this as: i'm budgetting based on payment in a certain window, having
> 'lateness' and 'goodness' being equal in a report reduces its utility.
>
> \p
> ---
> I'd rather be dead than think about death. - Brendan Behan
> _______________________________________________
> Noisebridge-discuss mailing list
> Noisebridge-discuss at lists.noisebridge.net
> https://www.noisebridge.net/mailman/listinfo/noisebridge-discuss
>
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://lists.noisebridge.net/pipermail/noisebridge-discuss/attachments/20100106/968a8093/attachment-0003.html>