Comments:

RE: FACTA Credit Score Fee Project: R411004 --- It would be helpful if a person could go to their own bank and ask to access their own credit score and/or credit report. This could be handled as a simple customer service request for a bank's customer. --- A. First time request - - - The fee for an individual to see his/her own Credit Score should be the same as for a business to see it. If a bank pays to see a credit score an individual should pay the same. If the bank sees it for nothing, (or an annual fee) they should be able to show it to their own customer at no cost. --- B. Denied Credit - - If someone has been DENIED credit, or offered a loan at LESS than the best rate, the business should be required to show the client their own score. ---- ---- And have it explained to the consumer why the credit was denied/less than best rate. ---- ---- And instructions should be offered to help the consumer get a free copy of their own credit report. ---- ---- Assuming the merchant wants to do business with as many consumers as possible they can offer specific suggestions to help the consumer improve their score. I.E. Reduce the percentage of your debt (pay off some of the outstanding loans); Correct any errors in the credit report, etc., etc. These suggestions should be specific for this credit report. ---- ---- We realize merchants are not credit counseling offices but the reason for the low score should be clear and explained to the consumer. Too often its treated as a matter of national security and consumers that could have cleared up misunderstandings and/or errors are left in the dark. They don't get what they want and the merchant loses a sale. ---- ---- [personal identifying information (PII) redacted]