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Credit Corner
With Thomas R. McKee
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Newsletter Date 5.25.2013
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In This Issue
My Credit Monitoring Service score is 100 points higher than
what I just pulled at my bank!
Contact me personally:
Thomas R. McKee
New West Credit Consultants
4605 W. 39th St.
Sioux Falls, SD 57106
605-323-1316 office
800-900-7481 toll free
877-294-9562 toll free fax
Have
questions about a clients credit?
Simply
call us or email the credit report for a Free Analysis!
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My Credit Monitoring Service score is 100 points higher than what
I just pulled at my bank!
This
is a very common thing that happens to people who sign up for Credit
Monitoring Services. You’ve seen the commercials—they are all over the TV.
They
charge you $12.99 to $25 per month by monitoring and alerting you of any
negative “activity” on your credit score with the three major Credit
Reporting Agencies (TransUnion, Equifax and Experian), they then show you how
your credit is “improving”.
Unfortunately
they use a different Algorithm or scoring model which are not the same ones
used by banks, credit card companies, mortgage lenders etc.. These are a
realistic scoring model in which the lender uses to determine your
eligibility.
It’s obviously in the best interest of the Credit Monitoring Service to show
you that your credit is improving otherwise they would lose you as a client!
Simply multiply 2 million clients times $14.99 a month and you can get a
picture of what these companies generate by “monitoring” your credit.
Truth be told, they may be monitoring your credit month to month but what they are NOT telling you is that the score they are showing you is not your “true” credit score!
The FTC has been inundated with complaints and have initiated legislation.
Unfortunately our Federal Government is many times slow to action!
The
bottom line is Credit Monitoring Services offer a valuable tool to help you
monitor and improve your credit—just do the research before signing up for
one!
Sincerely,
Thomas
R. McKee
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Thomas R. McKee
New West Credit Consultants
4605 W
39th. St.
Sioux
Falls, SD 57106
605-323-1316 Office Line
800-900-7481 Toll Free
877-294-9562 Toll Free Fax
Thomas R. McKee
New West Credit Consultants
4605 W
39th. St.
Sioux
Falls, SD 57106
605-323-1316 Office Line
800-900-7481 Toll Free
877-294-9562 Toll Free Fax
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