Watch Out for The Credit Watchers
Before I begin, a little housekeeping.
Thanks to the reader who clarified that "ein lo sechel" is Hebrew for "he has no sense."
Lots of expertise out there on ads for FMNV in schools.
Thanks to reader DJV9973 who tried to explain why the payoff is so small for schools that allow ads for FMNV.
"I suspect that advertising for FMNV is largely comprised of signs on vending machines and advertising distributed through other media such as newspapers, magazines and closed-circuit television broadcasting equipment. Schools don't receive money for the vending machine advertisements, but they do receive money for the vending machine placement. They also don't receive money for the advertising through other media, but instead receive the periodicals and equipment free or at reduced rates."
Also, I think Dr. Phil may have moved to Southern Maryland. SM wrote in: "I don't think it's the schools being snowed by corporations--they are being snowed by the kids who want junk available to them in vending machines."
Kids do love junk, as Lisa Belkin's story last month attested to.
Today, though,we're leaving the school yard to take a look at a different sort of report card: your credit report.
For more, I'm going to refer you to Ed Mierzwinski of US PIRG who has his own consumer blog.
Ed's an expert about credit issues and he's posted a lengthy item about how the three largest credit bureaus are trying to do an end-run around the 10-year old Credit Repair Organizations Act, which protects consumers from phony credit repair doctors.
The Cliff Notes Version: The Big Three--Experian, Equifax and Trans Union want protection from lawsuits filed against them over so-called credit monitoring services. They charge between $40 and $150 and promise to notify you about changes to your credit report. It's supposed to help protect you against identity theft.
Consumers Union, publisher of Consumer's Report, says they're little more than a waste of money. And that's the very reason some consumer lawyers sued the Big Three under CROA, which was designed to protect consumers from credit fixing scams by keeping companies from collecting fees in advance.
If you want to know more, you can check out Ed's post here.
Inquiring minds want to know: Do you already check your credit report for free? And have you ever tried one of these credit monitoring services? And was it worth it?
not sure the id theft link completely fits, but we could add it as a second sentence in this epilogue. Does this work for you?
Epilogue: This link on Bankrate gives worthwhile advice on how to choose a legitimate credit repair service.
Please email us to report offensive comments.
Posted by: kate | September 22, 2006 8:23 AM
Posted by: Chris | September 22, 2006 9:28 AM
Posted by: Melissa | September 22, 2006 9:32 AM
Posted by: kurosawaguy | September 22, 2006 9:37 AM
Posted by: Free credit report each year | September 22, 2006 9:43 AM
Posted by: to kurosawaguy | September 22, 2006 9:46 AM
Posted by: skm | September 22, 2006 10:47 AM
Posted by: CyanSquirrel | September 22, 2006 11:15 AM
Posted by: CyanSquirrel | September 22, 2006 11:18 AM
Posted by: Oakton | September 22, 2006 12:38 PM
Posted by: Jeff | September 22, 2006 12:54 PM
Posted by: Kim | September 22, 2006 1:10 PM
Posted by: Chasmosaur | September 22, 2006 1:19 PM
Posted by: jeffl | September 25, 2006 10:56 AM
The comments to this entry are closed.