Credit Score Improvement companies access to your bank accounts

[John Barrows]

I was inquisitive about these so called Credit Score Improvement companies and how they work. So, I looked into them to see what they could do for me. I was astonished at what I found out about how they operate!

1. When signing up to all/any of these companies you have to give out your social security number and your bank account information.These companies want your personal bank account numbers (as they say) in order to see who your paying?

2. They don't provide your credit bureau score nor credit report unless you PAY a monthly fee for the information. Oh yeah, they will give you a score but, it's not your credit bureau reports scores. Once you see these scores you're surprised and want to "help yourself".

3. They will tell you, "HERE's a CREDIT CARD WE RECOMMEND" You have to use one of the numerously over priced, highest interest rate cards they recommend in order to "qualify" for a credit rating or build your credit up. If you go and apply for a card somewhere else or purchase something on-time from another company (they didn't recommend) these companies pick up the information from the reporting bureau's and then these companies will automatically LOWER YOUR SCORES!

4. These companies are NOT ACCURATE with your credit scores! When you call them on the information they're reporting, they will give you a false misleading excuse that (NOT ALL BUREAU's) calculate the same. This is BULL!

5. The credit improvement scoring companies just POP UP without knowing who's running them! DO YOU KNOW who runs these companies? IS YOUR INFORMATION REALLY SAFE? Anyone with a few thousand dollars with CREDIT CARD COMPANY BACKING can start these companies! They then advertise in the media and presto, you're hooked! They can help you (FOR A LARGE FEE)!

6. I have decent/OK scores because I run up my cards, then pay them off prior to the payment date due. Credit Bureau's and these credit scoring companies don't like that because they can't make any interest on the borrowed funds. So, they show their disapproval appreciation by lowering your credit score by 20-40 points.<<<SCAM>>>

7. My credit scores on all three Bureau's run 30-50 points plus over these credit scoring companies. Her's how you can SCAM THEM! Just before the DUE DATE on your credit cards or revolving credit line comes due, pay the amount down to under 30% of what you owe. Don't use the card until the net (reporting date) for the credit card or revolving credit. The date will be on your bill or you'll receive a payment reminder on line (that's the date)!

8. Bottom line to these (FAKE CREDIT SCORING COMPANIES) is, it's just another advertising arm for the CREDIT CARD COMPANIES to manipulate the consumer into believing they are their to help. "They ARE NOT" their to help. They want you to get a credit card through their FUNNELED ADVERTISING SCHEME so they can make a FEE from the credit card companies and yourselves! Again, find the date the companies report your payments and then use this to build your scores yourselves!

9. NOBODY needs to PAY A FEE to see their CREDIT BUREAU REPORT! CREDIT REPORTS are free to the consumer every year! If you want a credit score then buy an item over $100.00 and pay it on time and they HAVE TO SEND YOU a link to see your score or they'll have a credit score available in the paperwork you sign.

10. Credit Improvement Companies were created because they BELIEVE, WE THE PEOPLE are so stupid that we will pay someone else to tell us how to pay for something that is FREE TO YOU! Don't be scammed by the advertising media and the credit card companies folks! Whether it is Credit Improvement Scoring Companies, Credit Card Companies or companies advertising they'll help you pay your bills on time, if they want you to pay a FEE, they are selling information that you can find for yourselves! 

People, when you give these companies your person information, YOU ARE OPEN TO BE SCAMMED by anyone who see's your private information. 

Investigators/police/FBI have proven that the vast majority of CREDIT CARD FRAUD comes from RESTAURANTS, RETAIL OUTLET's, STORES and ON-LINE FRAUD from people willingly giving out their information to SCAM WEB SITES advertising "THEY CAN HELP" scheme's ! It's may not be the companies who are scamming you, it's most likely the employee's they hire that will take your information, copy it, and then give it to a friend or acquaintance for a few dollars! 97% of thefts in AMERICA are people you know, are friends with or that are friends of friends! That is a FACT!

I had a few of these scams happen to me so I put a lock on my accounts that alert me of who's doing what in any of my accounts, immediately. You need to be super careful about how you use your private information. Even Real Estate Escrow companies have run into unsecured money transfer hijacking scams. Guess what, those scams are generally done from within just like ARMORED CAR hold-ups, they are planned from within. So please be aware of who is taking your private information...