Credit report errors during pandemic

[Finance Dave]

For those of you concerned about your credit report, you might want to check it. You know how some banks last year allowed people to skip a payment? Well, turns out some of their computer systems were not programmed to allow that as "non-punishable" and therefore these banks sent delinquent marks to the credit agencies for those who took advantage of this offer.

We are unaffected...our mortgage has been paid off for over a decade. And we don't borrow money unless it's at zero interest.

If you are a newbie to credit reports, your best bet is to go to annualcreditreport.com and plan on spending at least 30 minutes the first time...they ask lots of questions. You can get your credit report free from each bureau once a year (but not the credit score, that costs a small fee). I stagger ours so we get them at various times of the year, just to look for fraud activity.

If you want more info, Google "credit report errors during pandemic". Evidently complaints against the bureaus doubled over the past year. Seems like it's not actually the bureau's fault, but rather maybe the banks' fault.

 

[twaddle]

Likewise, I don't have much use for credit scores/reports, but I did perk up when you mentioned loans at 0%. Where do I find those?

 

[Finance Dave]

Likewise, I don't have much use for credit scores/reports, but I did perk up when you mentioned loans at 0%. Where do I find those?

Don't know today, but I've bought 3 new cars over the past 14 years and got 3 year financing at 0.0% twice. Invest in a guaranteed fund earning 1-2%, and when you're buying a $55k vehicle it adds up to several hundred dollars per year.

 

[Sunset]

Likewise, I don't have much use for credit scores/reports, but I did perk up when you mentioned loans at 0%. Where do I find those?

It feels like I'm loaning money to the banks at 0% these days