Product Description

Provides a thorough examination of American Credit Scoring and Credit Reporting systems. This second edition enables consumers to understand how both of these systems actually work, and what they can do to improve their FICO scores, and to ensure their credit reports are accurate. Importantly, the book also describes how the system sometimes doesn't work, and how hundreds of thousands -- if not millions -- of consumers have been frustrated in their efforts to correct errors in their credit reports. A well-informed, informative, and well-written guide to a subject of great and growing importance to consumers.

Product Details

• Amazon Sales Rank: #1339356 in Books
• Published on: 2005-05
• Original language: English
• Binding: Paperback
• 399 pages

About the Author
Evan Hendricks

Customer Reviews

Excellent, unique
Having written about credit for fifteen years myself (I am the author of The Ultimate Credit Handbook), I know a lot about credit reports and scores. But I learned even more from this book.

Hendricks brings a very unique perspective to the topic of credit scores because of his years of experience as a privacy advocate. I found his references to court cases and the testimony of credit reporting agency executives eye opening. The chapter that explains how lenders often get different reports than consumers, and the subject of "cloaking" was alarming.

If you really want to understand how credit reports and scores work -- from what I would say is an insider's perspective -- I'd recommend this book highly.

Boring
there are a few good chapters. and there are several chapters that are just plain wrong. this text is not for the faint at heart. i do however appreciate certain aspects of this book.

Practical, comprehensive, useful
I thought I had a pretty good idea what a credit score was, how it worked, and how to get mine. I was wrong. I had no idea how complicated the process was, how many different variables entered into it, and how easily I could do damage to myself.

I understood that I had a right to a free credit report. I had no idea how deeply the "free" option was buried, how much digging had to be done to find it, and how limited the information would be--all in an effort to drive me to the paid options. Thanks to this book, I now know, step by step, how to get the information I need, and know which options are free, which cost money, and when I need each one.

While I've been fortunate enough not to be hit with identity theft, I know people who've had to cope with it. I'm relieved that I now own a complete resource on how to deal with it. I know how to challenge errors in my credit report. I hope I won't ever need to use a lot of what this book provides me, but I'm sure glad I have a copy on my shelf.

I'm also glad to have read the reports on the insurance industry, the use of credit in discriminatory practices, opting out of having personal data shared, and other issues. Coming from the editor and publisher of PRIVACY TIMES, the information is timely, insightful, and important.

If you've got any serious credit history, privacy concerns, an intent to make a major purchase, or feel vulnerable to identity theft, you'll value having this book in your library.