Welcome to The Outdoors Trader

Register Now
  1. 10 Year Anniversary Gun Show & Swap Meet - May 1, 2021 - Click here for tickets and click here for info!
    Dismiss Notice
  2. Welcome to The Outdoors Trader! Join today, registration is easy!

    You can register using your Google, Facebook, or Twitter account, just click here.
  3. Featured Listings are working again! Feature your listing on every page for $3 a day! Click here for all the info.
    Dismiss Notice

Beware Experian

Thread in 'Finance / Investing' started by rbstern, May 28, 2020.

  1. rbstern

    rbstern ODT Junkie! Supporter

    Special Hen Supporter
    Messages:
    3,688
    Likes Received:
    3,638
    Joined:
    May 20, 2010
    Location:
    Hartwell
    GA Carry Contributor NRA Contributor
    Rating
    100%
    Like millions of others, I was a victim of the 2017 Equifax data breach. One of the remedies Equifax gave the victims was an extended of membership in the Experian credit monitoring service.

    So, I used that service for the last three years. About two years ago, I bought a one time, extended credit report from Experian, as part of a mortage application process. So they had my credit card number. That was a mistake on my part!

    I was just reviewing my credit card statement, and found that Experian had billed me $24.99 for each of the last three months, for a membership I never enrolled in.

    I went back and reviewed my Experian emails (I save nearly everything). They send me a ton of marketing stuff. But no billing notices. No enrollment notices.

    Went through customer service phone hell with them this morning, finally got them to cancel the membership and refund the most recent charge. Had to endure another customer service from hell phone call to get my credit card company to dispute the previous two monthly charges.

    And then there's this: Had another fishy instance with Experian a few months back. They were heavily marketing this "credit boost" program where you could improve your credit score just by enrolling. I didn't need it and never did it. Shortly after that program started, with no changes to my credit on my end, and no explanation from them, my credit FICO dived about 50 points. I wondered if it was an attempt by drum up business for their credit boost program. I decided to wait it out. Sure enough, my credit score mysteriously returned to it's previous rating in a few weeks. No explanation.

    Experian is doing shady ****. Avoid.
     
    Jeddak, KOMRAD, Sowega86 and 9 others like this.
  2. StuP

    StuP The Hen that laid the Golden Legos Supporter

    Supporter
    Messages:
    7,864
    Likes Received:
    6,769
    Joined:
    Jul 26, 2010
    Location:
    Lilburn
    Rating
    100%
    Not a fan of the whole 'credit score' system. A credit rating provider advertising a product to 'improve' credit ratings..... dubious at best.
     
    Morgan and BillsCamino like this.
  3. Hunkkerdown

    Hunkkerdown ODT Junkie!

    Messages:
    1,719
    Likes Received:
    990
    Joined:
    Feb 7, 2015
    Location:
    US
    Rating
    100%
    Freeze your credit at all six bureaus, not just the major three.

    You are the PRODUCT not the consumer.
     
    diacnik, hseII and pavogrande like this.
  4. Freshly Minted Georgian!

    Freshly Minted Georgian! ODT Junkie! Supporter

    Supporter
    Messages:
    2,143
    Likes Received:
    2,267
    Joined:
    Jan 6, 2016
    Location:
    Bogart
    Rating
    100%
    A company that "impartially" tracks your credit score but sells a service to improve that "impartial" score???? No conflict of interest there!
     
  5. Shotgun Surgery

    Shotgun Surgery Survivalist

    Messages:
    345
    Likes Received:
    357
    Joined:
    Jun 11, 2020
    Location:
    Carrollton
    Rating
    100%
    Having a good credit score usually just means that someone finds themselves into debt quite frequently. Smart people don't get into debt in the first place.
     
    Morgan, lokidogg and Toothpick like this.
  6. Trailrider

    Trailrider The Hen that laid the Golden Legos Supporter

    Supporter
    Messages:
    5,141
    Likes Received:
    7,156
    Joined:
    Aug 7, 2012
    Location:
    Mactown
    Rating
    98.9%
    Not entirely true anymore. Credit scoring is even used as a risk based measure of auto and home insurance now as well as employment. It's not about going in to debt anymore, it's pretty much how anything risk based is measured now. Bad/no credit equals higher insurance premiums, difficulty in getting hired in certain job markets where you'll be handling finances, and trouble renting property if you don't have the means to buy property. Ask my coworker and brother, both of whom don't believe in credit.

    I'll add to that, it's possible to use credit responsibly and make it work in your favor. I'm not a fan of debt either, just saying credit isn't all doom and gloom.
     
    hseII and Toothpick like this.
  7. Toothpick

    Toothpick Encrypting all the things Supporter

    Supporter
    Messages:
    6,244
    Likes Received:
    10,817
    Joined:
    May 16, 2018
    Location:
    საქართველო
    Rating
    100%
    The credit bureaus are "for profit" companies -- they are not not-profits. They're no different or better than Walmart or the local vape shop down the street trying to get more business. But not more business from us the consumers, mind you. Their customers are banks and other firms that lend money. Actual consumers are part of the products & services they sell.
     
  8. The Old Jaybird

    The Old Jaybird The Hen that laid the Golden Legos Supporter

    Supporter
    Messages:
    5,227
    Likes Received:
    7,249
    Joined:
    May 16, 2016
    Location:
    Winder, Georgia
    Rating
    100%
    So you buy your houses and cars with cash??
     
  9. lokidogg

    lokidogg The Fallen! Supporter

    Supporter
    Messages:
    4,217
    Likes Received:
    3,533
    Joined:
    Apr 30, 2012
    Location:
    Rocky Ford Ga.
    Rating
    100%
    I did for both.
     
    Poppa Mike and Morgan like this.
  10. rbstern

    rbstern ODT Junkie! Supporter

    Special Hen Supporter
    Messages:
    3,688
    Likes Received:
    3,638
    Joined:
    May 20, 2010
    Location:
    Hartwell
    GA Carry Contributor NRA Contributor
    Rating
    100%
    Never implied they arent for profit, nor do I mind honest attempts to make profit. When a company makes unauthorized charges, or charges based on "fine print that was so fine it was invisible," that's another ball of wax. It's a fraudulent practice.

    We have so many companies who want recurring subscription revenue from customers these days, it's gotten tempting for some to see if they can slip monthly charges under the radar. I truly believe that's what this was. That, or bureaucratic incompetence.
     
    Toothpick likes this.