Adding accounts to your credit reports by paying a fee to the CRAs
I’m not aware of this option to pay to have accounts added as described by the FTC at http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre21.pdf
So I sent an email to the attorneys in my suit against the CRAs:
To all,
As you know, several of my accounts (such as JC Penney) are NOT reported on my credit reports.
Here is an excerpt from the FTC site at http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre21.pdf
”Adding Accounts to Your File
Your credit file may not reflect all your credit accounts. Although most national department store and allpurpose bank credit card accounts will be included in your file, not all creditors supply information to consumer reporting companies: some local retailers, credit unions, and travel, entertainment, and gasoline card companies are among the creditors that don’t.
If you’ve been told that you were denied credit because of an “insufficient credit file” or “no credit file” and you have accounts with creditors that don’t appear in your credit file, ask the consumer reporting companies to add this information to future reports. Although they are not required to do so, many consumer reporting companies will add verifiable accounts for a fee. However, understand that if these creditors do not report to the consumer reporting company on a regular basis, the added items will not be updated in your file.”Please let me know what your clients charge, how I pay them and whatever I need to do to get my accounts reported.
Can utility accounts and rentals be added too?
Thanks,
Christine Baker
c: posted at [this URL]
I’ve never heard of the option to pay to have accounts reported and that’s going to be really helpful to many people with thin files and short histories. Of course I shouldn’t have to pay to get my oldest account JC Penney on my credit reports. Can’t wait to see how much they charge.
Or is this more FTC BS?
