Zombie myths

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In April, using his News Corporation Fox Business thingy, Rupert Murdoch published, “According to the Society for Human Resource Management, 60% of employers check applicants’ credit scores for at least some of their job candidates as part of their hiring process.”

Fox Business website before correction

Fox Business website before correction

That is nonsense, of course, and somebody changed the Fox story.  The new sentence, substituting reports for scores, is “According to the Society for Human Resource Management, 60% of employers check  applicants’ credit reports for at least some of their job candidates as part of their hiring process.”

[Rookie reporters and journalism students: Don’t be afraid to check original sources (Wouldn’t that be novel?).]

But, there is no acknowledgement on that story’s page (whose title uses a question mark) by Murdoch of the error and its correction.  That is not to say, however, that he always acts in such a clandestine manner.  Within another property in his empire, there was clear acknowledgement of the same error.

The Daily Show with Jon Stewart Mon – Thurs 11p / 10c
The Question Mark
www.thedailyshow.com
Daily Show Full Episodes Political Humor & Satire Blog The Daily Show on Facebook

Unfortunately, due to the syndicated error phenomena, the zombie myth lives.

It also lives in a certain Louisiana State University study, on a United States federal government server, no less, for U.S. citizens to read (and become misinformed).  The National Institutes of Health website states, “Many organizations use credit scores as an employment screening tool, but little is known about the legitimacy of such practices.”

And, here we go, again:

From: Greg Fisher [mailto:greg@pagea2.com]
Sent: Tuesday, November 13, 2012 8:35 AM
To: Rupert Murdoch, chairman and CEO, News Corporation (via Julie Henderson)
Cc: Tim Sullivan, writer, translator, yoga teacher and massage therapist, Money Blue Book
Subject: name your source; coining a term: CUR (credit-utilization ratio)

You published

When you close an account, especially a larger account, your credit-utilization ratio (CUR) will be affected and your score could go down. In addition, if the card you’re closing was the first credit card you ever got, it could shorten the length of your credit history, which can also hurt your score… Closing too many cards at once can cause your credit score to drop sharply from a snowball effect of the reasons mentioned above.

Who is your source regarding closing an account shortening a credit history?  Fair Isaac calls that a myth.

Also, where did you get the idea to use the initials CUR to refer to the so-called credit utilization ratio?  Why don’t you call it PBCL (proportion of balances to credit limits)?

—
Greg Fisher
Page A2
pagea2.com
PO Box 342
Dayton, Ohio  45409-0342

McClatchy’s syndicated error

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(see “950” on the Associated Press website)

From: Greg Fisher [mailto:greg@pagea2.com]
Sent: Friday, September 28, 2012 10:49 AM
To: Bill Marimow, editor, Philadelphia Inquirer, Philadelphia Media Network Inc.; Reid Kanaley, columnist, Philadelphia Inquirer; Al Heavens, real estate columnist, Philadelphia Inquirer
Cc: Laura D. Adams, personal finance expert, Quick and Dirty Tips; Stacy Johnson, CPA, executive producer, publisher, president, journalist, Money Talks News; Jeff Gelles, columnist, Philadelphia Inquirer; Gail MarksJarvis, personal finance columnist, Chicago Tribune; Sam Zell, Tribune Company
Subject: RE: correction policy, Philadelphia Inquirer II

Now, you published: “The most common credit score issued is the FICO, named for Fair Isaac Co., which developed the mathematical formula. Rankings are from 300 to 950: The higher the number, the lower the loan-default risk.”

However, according to Fair Isaac, FICO scores range from 300 to 850.

Please reply with a link to your correction.

Also, today, please answer the questions below from over a month ago, and make sure that Mr. Hall gets this message.

—
Greg Fisher
Page A2
pagea2.com
PO Box 342
Dayton, Ohio  45409-0342

[previous message attached]

Name one

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[PREVIOUS CORRESPONDENCE]

From: Greg Fisher, Page A2
Sent: Wednesday, September 19, 2012 11:19 PM
To: Robert O. Weagley, associate professor and department chair, CFP program director, College of Human Environmental Sciences, University of Missouri; Cynthia E. Crawford, extension professional & Family Financial Education specialist, CO-CPD, Saline Co. and Central Missouri Region, Saline County MU Extension Center, University of Missouri
Cc: Gilbert Bailon, editor in chief, St. Louis Post-Dispatch; Jim Gallagher business reporter and columnist, St. Louis Post-Dispatch; Janet LaFon, specialist, Family Financial Education, Southwest Region, Jasper Co. MU Extension Center, University of Missouri
Subject: RE: FW: El Dorado Springs Sun, We Are the 98 Percent

Well, if that is the case, then who in the world told you that only “about 2% of people have a score of 800 or more”?

That’s enough to take away a man’s will to live!

http://pfp.missouri.edu/financial/documents/MYFICO.pdf#page=9

Name an employer who uses credit scores—just one.

—
Greg Fisher
Page A2
pagea2.com
PO Box 342
Dayton, Ohio  45409-0342

From: James Gallagher, St. Louis Post-Dispatch
Sent: Wednesday, September 19, 2012 2:26 PM
To: Greg Fisher. Page A2
Subject: RE: FW: El Dorado Springs Sun, vs. St. Louis Post-Dispatch

Dear Mr. Fisher: This seems to be an issue between you and the University of Missouri. This newspaper is not involved.

Jim Gallagher
St. Louis Post-Dispatch
[PHONE NUMBER]

A portion of the St. Louis Post-Dispatch Corrections Policy in 2008

Posted on by

“Readers should never be forced to wonder what is being corrected. They shouldn’t be left guessing where the error occurred.” – St. Louis Post-Dispatch Corrections Policy in 2008

[PREVIOUS CORRESPONDENCE]

From: Weagley, Robert O.
Sent: Monday, September 17, 2012 11:03 AM
To: ‘Greg Fisher’
Subject: RE: FW: El Dorado Springs Sun, footnote in testimony

Mr. Fisher – We publish our Financial Tip of the Week on Friday mornings. We will rewrite the piece you are concerned about with wording similar to what is highlighted below, when it is my turn again in the cycle. I don’t know what else we can do, nor do I fully understand what it is that you think we should do.

There is nothing wrong with employers looking at your credit score, if you give them permission.

– Rob Weagley

From: Greg Fisher, PageA2.com
Sent: Wednesday, September 19, 2012 11:08 AM
To: Gilbert Bailon, editor in chief, St. Louis Post-Dispatch; Jim Gallagher business reporter and columnist, St. Louis Post-Dispatch; Steve Giegerich, business reporter, St. Louis Post-Dispatch
Cc: Mary E. Junck, chairman, president and CEO; chairman, Executive Committee, Lee Enterprises; Warren Buffett, CEO, Berkshire Hathaway (via M. Reilly, Omaha World-Herald); Kimball Long, owner, publisher, El Dorado Springs Sun; Nellie Lamers, family financial edcuation specialist, Taney County, Southwest Region, University of Missouri; Robert O. Weagley, associate professor and department chair, CFP program director, college of Human Environmental Sciences, University of Missouri; Dan Iannicola, Jr.
Subject: RE: FW: El Dorado Springs Sun, vs. St. Louis Post-Dispatch

Recently, I beat my head against a wall trying to get a straight answer from some wacky thing in your state called Mizzou.

Then, I remembered that, three years ago, I corresponded with your organization about a couple of your of items.  Subsequently, you made corrections (but you put them on internet pages—separate from the actual articles’ internet pages—where they hardly do any good).

Anyway, could you find out what is going on in Columbia?

What is your correction policy, by the way?

—
Greg Fisher
Page A2
pagea2.com
PO Box 342
Dayton, Ohio  45409-0342

[NEXT CORRESPONDENCE]

Footnote in testimony

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[PREVIOUS CORRESPONDENCE]

From: Lamers, Nellie J.
Sent: Tuesday, September 11, 2012 5:28 PM
To: Greg Fisher (greg@pagea2.com)
Cc: Weagley, Robert O.; Procter, Brenda
Subject: RE: FW: El Dorado Springs Sun, credit score, employers, FreeScore.com

Mr. Fisher~

Robert Weagley, Ph.D., Department Chair, Personal Financial Planning, University of Missouri, will be releasing a new article about this topic on the 28th.

Also, Brenda Procter, State Consumer & Family Economics Specialist, University of Missouri Extension, spoke with Chi Chi Wu at the National Consumer Law Center. Wu said, “Although the credit reporting industry claims they do not sell credit scores to employers, there is nothing in the law to prohibit employers from obtaining a credit score if you give them written permission.”

I will let you know when Dr. Weagley’ s article is released- thanks~

Nellie

From: Greg Fisher [mailto:greg@pagea2.com]
Sent: Monday, September 17, 2012 10:50 AM
To: Kimball Long, owner, publisher, El Dorado Springs Sun; Kenny Long, owner, editor, El Dorado Springs Sun; Lisa Schlichtman, executive editor, Cassville Democrat, Rust Communications; Gary W. Rust, chairman, Rust Communications (Cassville Democrat)
Cc: Margot Freeman Saunders, Of Counsel, National Consumer Law Center; Brenda Procter, state specialist & instructor, Personal Financial Planning, College of Human Environmental Sciences, University of Missouri; Chi Chi Wu, expert, consumer credit issues ranging from credit cards to medical debt to fair credit reporting, & staff attorney, National Consumer Law Center; Chris Koster, attorney general, State of Missouri (via N. Gonder); Dean Mills, professor and dean, School of Journalism, University of Missouri; Nellie Lamers, specialist, Family Financial Education, Taney County, Southwest Region, University of Missouri; Robert O. Weagley, associate professor and department chair, CFP program director, college of Human Environmental Sciences, University of Missouri; Dan Iannicola, Jr.; Timothy M. Wolfe, president, University of Missouri; David R. Bradley, chairman, Board of Curators, University of Missouri System; Brandon Ellington, representative, District 41, House of Representatives, State of Missouri; Leonard Hughes IV, representative, District 42, House of Representatives, State of Missouri; Press office, U.S. Consumer Financial Protection Bureau; Jay Nixon, governor, Missouri; Mark Horvit associate professor, executive director, Investigative Reporters and Editors, School of Journalism, University of Missouri
Subject: RE: FW: El Dorado Springs Sun, footnote in testimony

There is nothing in the law to prevent me from pitching a no-hitter in the World Series, either (I just don’t work for such low pay). There is no law preventing me from wearing green hats.  And, believe it or not (as incomplete as the law is) there is not even anything in it about unicorns, zombies, little green men nor keeping monkeys from flying out of my nose.

Indeed, there is nothing in the law to prohibit employers from obtaining a credit score.  But, inversely, if some Missouri legislators had their way, they would have actually changed the law to make it legal, expressly, to use credit scores in employment.  Perhaps they believe the hype.

National Consumer Law Center

This hysteria has gone on for years.  In 2005, a representative of the NCLC provided this testimony to Congress: “In some situations, workers are simply deemed ineligible for employment if they do not have adequate credit scores. In others, credit information and scores are checked on an ongoing basis by employers, and workers can be fired for negative information on their credit report, or even low credit scores.”

Also in 2005, with others, Ms. Wu signed a document that states, “Without a Disaster Information Shield, FICO scoring models could pose an affirmative barrier to the efforts of disaster victims to regain, and maintain, financial stability, access reasonably priced credit, and even regain employment.”

(Even is a well-worn cliché in this mess: Outrage at an invisible bogeyman.)

Earlier this year, I made a whistle stop train tour to get their attention.  Today, the first signer of that document is an associate director of the Consumer Financial Protection Bureau.

But before 2005, in USA Today, Gannett published, “More employers are screening job applicants by credit score.”

Unfortunately, the reporter is dead. His source material may be unavailable. Subsequently, regarding another item, the same media organization published, “An earlier version of this editorial incorrectly suggested that employers look at job applicants’ credit scores.”

Missouri Attorney General

Regarding consumer reports American citizens can obtain for no charge, the Missouri Attorney General states, “You will not see your credit rating (or credit score).”

This is item 5 in the attorney’s general Consumer Credit Quiz:

Your credit rating affects your ability to:

  • Obtain new financing, such as credit card accounts, lines of credit and loans
  • Be hired
  • Rent property
  • All of the above

The result of answering “All of the above“ is this:

Correct!
All of the above. Your credit history may be considered by potential insurers, landlords and even employers.

Even employers.

This is not about credit scores, and it is not a game; at stake is something fundamental.  This is about media accuracy, errors and corrections.  It is also about inaccurate information, its origin, its consequences in a democracy and common sense.

Our First Amendment right ends at falsely shouting fire in a theatre.

Where do you publish corrections?

—
Greg Fisher
Page A2
pagea2.com
PO Box 342
Dayton, Ohio  45409-0342

[NEXT CORRESPONDENCE]

Press release journalism

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[PREVIOUS CORRESPONDENCE]

From: Lamers, Nellie J.
Sent: Tuesday, September 04, 2012 11:34 AM
To: ‘Greg Fisher’; Kenny Long, owner, El Dorado Springs Sun
Cc: UM President; Board of Curators
Subject: RE: El Dorado Springs Sun, credit score, employers, corrections location

Hi Greg~

In general, nobody can get a copy of your report or score without your written consent, from: http://www.freescore.com/who-can-check-my-score.aspx:

“Any people or organizations who have a “legitimate business need” can check your credit score. The phrase “legitimate business need” casts a broad net over who can access your credit score, and people and entities that fall under the category include:

  • Current and prospective employers (with your consent)”

Thanks for your message~

Nellie

Nellie Lamers Family Financial Education Specialist University of Missouri Extension [WITHHELD BY PAGE A2] [WITHHELD BY PAGE A2] Phone:  [WITHHELD BY PAGE A2] FAX:      [WITHHELD BY PAGE A2]

E-mail: [WITHHELD BY PAGE A2]

URL: http://extension.missouri.edu/taney/

“Teaching should be such that what is offered is perceived as a valuable gift and not as a hard duty.” Albert Einstein

Subscribe now to the FREE Southwest Region News Service: http://extension.missouri.edu/swregion/news

From: Lamers, Nellie J.
Sent: Tuesday, September 04, 2012 12:36 PM
To: Greg Fisher; Kenny Long, owner, El Dorado Springs Sun
Cc: UM President; Board of Curators
Subject: RE: El Dorado Springs Sun, credit score, employers, corrections location

Meant to include this link also: http://missourifamilies.org/features/consumerarticles/consumerpdfs/creditreportbasics05.pdf

Thanks~

From: Greg Fisher [mailto:greg@pagea2.com]
Sent: Monday, September 10, 2012 9:07 AM
To: Lamers, Nellie J.
Cc: Kenny Long, owner, El Dorado Springs Sun; UM President; Board of Curators; Weagley, Robert O.; Gary Johnson, president & CEO, Vertrue Incorporated (FreeScore.com member support address); Carrie Coghill, director of consumer education, FreeScore.com; Lisa Schlichtman, executive editor, Cassville Democrat, Rust Communications; Gary W. Rust, chairman, Rust Communications (Cassville Democrat); Dieckmann, Rebecca; Jay Nixon, governor, Missouri
Subject: RE: El Dorado Springs Sun, credit score, employers, FreeScore.com

Ms. Lamers:

Since employment credit reports do not contain credit scores, how do employers obtain scores?  Is there a black market?

Here are statements by the three biggest national consumer reporting agencies:

“There’s no such thing as a credit score in employment.” – TransUnion, in testimony

“We do not knowingly provide scores for pre employment screening.” – Equifax vice president of communications

“Employers never get credit scores.” – Experian, July 18

Despite those clear statements, many people, companies and institutions (such as yours) still claim that employers use credit scores.  None have evidence, and neither do you.  For instance, last year, news agency Reuters said that Fair Isaac (aka FICO) told them that credit scores can be accessed and used by employers.  Reuters believes it.

Another University of Missouri document (dated 2008) states, “First, a low FICO score can be used by employers.”

Visa U.S.A. says, “Your credit score is a complex calculation of your past financial behavior, like with credit cards and loans, that results in a number of ‘points’ that is not only used by lenders and creditors, but also landlords and employers, when making important decisions about your future.”

Even Experian, contradicting its statement above, makes the claim: “More Employers Check Applicants’ Credit Scores.”

So, thinking independently and critically, and applying rigor in your research, which do you believe?

I wrote to FreeScore.com.  So did the Federal Trade Commission.

Speaking of free, your second link leads to a University of Missouri document that states: “Be cautious about companies offering ‘free credit reports’ on slick TV commercials, on websites or in magazine advertisements. Many of them have a snag such as having to pay a hidden fee for some other service they offer or requiring a subscription of some kind.”

The word score does not even appear in that document.  What point are you making with it?

What is the name of an employer who uses credit scores?

You failed to answer this question:  Where do you publish corrections?  Please answer it.

The inaccurate information from your press release is spreading.  Please answer the questions or issue a retraction before the myth goes any further.

—
Greg Fisher
Page A2
pagea2.com
PO Box 342
Dayton, Ohio  45409-0342

From: Lamers, Nellie J.
Sent: Monday, September 10, 2012 12:38 PM
To: Greg Fisher (greg@pagea2.com)
Cc: Weagley, Robert O.; Procter, Brenda
Subject: RE: FW: El Dorado Springs Sun, credit score, employers, FreeScore.com

Mr. Fisher~

We are investigating further and I will let you know.

Corrections will be sent to the original story outlets.

Thank you~

Nellie

[NEXT CORRESPONDENCE]

El Dorado Springs Sun, corrections location

Posted on by

From: Greg Fisher [mailto:greg@pagea2.com]
Sent: Friday, August 31, 2012 2:11 PM
To: Kenny Long, owner, El Dorado Springs Sun
Cc: Nellie Lamers, specialist, Family Financial Education, Taney County, Southwest Region, University of Missouri; Timothy M. Wolfe, president, Univeristy of Missouri; David R. Bradley, chairman, Board of Curators, University of Missouri System
Subject: El Dorado Springs Sun, credit score, employers, corrections location

See this message and your response at https://www.pagea2.com/?p=411.

You published, “’Creditors, employers, landlords and others use your credit report and score to determine the interest rate you pay and whether or not you are offered a job, lease or credit,’ said [University of Missouri Extension family financial education specialist Nellie] Lamers.”

Employers do not use credit scores because they cannot even get them.

Where do you publish corrections?

—
Greg Fisher
Page A2
pagea2.com
PO Box 342
Dayton, Ohio  45409-0342

[NEXT CORRESPONDENCE]

 

CompareCards.com expert asks to be interviewed again

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Previous correspondence with CompareCards.com

From: Greg Fisher [mailto:greg@pagea2.com]
Sent: Wednesday, August 29, 2012 11:58 AM
To: Chris Mettler, founder and CEO, CompareCards.com
Subject: RE: Interview Inquiry, myths

See https://www.pagea2.com/?p=390.

One of your videos, “CREDIT SCORES 101,” states, “Today, credit scores play a part in everything from getting a home, owning a car, to getting a job.”

Born of three years of following that myth, Page A2 is about misinformation, its consequences, and how media deal with correcting and counteracting it.

There is no evidence to support either of your claims.  Over two months ago, you said that you would make a correction to one of them, but you did not.  What happened?

My name is not Gregg.

—
Greg Fisher
Page A2
pagea2.com
PO Box 342
Dayton, Ohio  45409-0342

From: Chris Mettler
Sent: Tuesday, August 28, 2012 11:33 AM
To: Greg Fisher
Subject: Re: Interview Inquiry, insight

We still doing an interview?

From: Chris Mettler
Sent: Monday, June 11, 2012 5:03 PM
To: Greg Fisher
Cc: Chrissy Bunkley, marketing & communications Specialist, CompareCards.com
Subject: Re: Interview Inquiry, insight

Hey Gregg-

Thanks for your question … I’ll just respond with what I believe I know …

When I made the below statement, I’m making an assumption that credit scorers don’t like to really see balance carry of above 30% in a given month. Obviously, the higher this number, the more chance of a lower credit score. I used 30% as a good threshold to stay under.

So, assuming that about 30% of your overall credit score is based on “Balances or Amount Owed”, I would estimate that 10% of the 30% number is attributed to the number of accounts with balances. Multiple revolving accounts with balances might signal that someone makes purchases beyond their means if they can’t pay this off each month.

Also, my wife grew up in Oakwood and loves Dayton – a throwback spot in this country – go Flyers!

Chris

From: Greg Fisher
Sent: Monday, June 11, 2012 12:25 PM
To: Chris Mettler, founder and CEO, CompareCards.com
Cc: Chrissy Bunkley, marketing & communications Specialist, CompareCards.com
Subject: RE: Interview Inquiry, insight

You wrote: “The overall score is tabulated using several different categories of information that are each weighted depending upon their financial importance to lenders. Some account for 15 percent of your score, for instance, while other categories of your credit performance are worth more than that. Once of the biggies is the amount[SIC] owed, or in other words how much debt you are carrying compared to how much credit you have offered to you. According to Fair Isaac, credit utilization is a key factor in the amount[SIC] owed category – and that category makes up 30 percent of your score.”

If “amount[SIC] owed, or in other words how much debt you are carrying compared to how much credit you have offered to you” “and that category makes up 30 percent of your score,” then what percentage is made up by the Number of accounts with balances?

—
Greg Fisher
Page A
pagea2.com
PO Box 342
Dayton, Ohio  45409-0342

From: Chrissy Bunkley
Sent: Friday, June 08, 2012 4:04 PM
To: greg@creditscoring.com
Subject: Interview Inquiry

Hi Greg,

I’m reading over the Credit Score blog and notice that you feature a wide variety of topics on all things credit score and finance. I hope you don’t mind that I am using the email address that I found from one of your previous posts in where you personally contacted Rubert Murdoch and called him out for misreports of credit scores and job candidacy.  You’ve got some guts and I like it!

Let me back up, I’m Chrissy from CompareCards.com, an online credit card comparison website.  I’m writing to you because I’d like to offer you the opportunity to interview our founder and CEO, Chris Mettler.  Chris has been educating consumers on credit card trends since 2005.  His wealth of knowledge in financial responsibility is both informative and actionable for consumers and entrepreneurs alike.

Chris has been featured and interviewed in a number of news outlets, which you can find here: http://www.comparecards.com/in-the-news

If you are interested in this idea, I can connect you with Chris directly, who would be happy to share his insight with your readership.

Please let me know if you have any questions or would like to hear more about this opportunity.

Best,
Chrissy

———-

Chrissy Bunkley
Marketing & Communications Specialist
www.comparecards.com

CompareCards.com did not make the correction

Posted on by

Subsequent message from Comparecards.com

From: Chris Mettler
Sent: Tuesday, June 19, 2012 10:21 AM
To: Greg Fisher
Subject: Re: Interview Inquiry, insight, key factor III

Sure

From: Greg Fisher [mailto:greg@pagea2.com]
Sent: Monday, June 18, 2012 2:32 PM
To: Chris Mettler, founder and CEO, CompareCards.com
Subject: RE: Interview Inquiry, insight, key factor III

Will you make a correction?

From: Chris Mettler
Sent: Monday, June 18, 2012 1:20 PM
To: Greg Fisher
Subject: Re: Interview Inquiry, insight, key factor II

I don’t know anyone at Fair Isaac that said credit utilization was a key factor in the amounts owed category, but it has been assumed from many sources that this is a key factor in determining an individuals credit score. I believe this assumption to be correct given that a high credit utilization (or someone with multiple credit accounts with high credit utilization) would infer to a potential creditor that someone has a higher probability of living beyond their current income target – hence a riskier credit profile.

From: Greg Fisher [mailto:greg@pagea2.com]
Sent: Monday, June 18, 2012 12:06 PM
To: Chris Mettler, founder and CEO, CompareCards.com
Subject: RE: Interview Inquiry, insight, key factor II

Who at Fair Isaac said—or where did the company state in writing—that credit utilization is a key factor in the Amounts Owed category?

From: Chris Mettler
Sent: Monday, June 18, 2012 11:18 AM
To: Greg Fisher
Subject: Re: Interview Inquiry, short

Nope, just didn’t no where we were headed with this … I understand this now …

From: Greg Fisher [mailto:greg@pagea2.com]
Sent: Thursday, June 14, 2012 5:10 PM
To: Chris Mettler, founder and CEO, CompareCards.com
Subject: RE: Interview Inquiry, short

You only (sort of?) answered two questions.

Is the interview over?

From: Greg Fisher [mailto:greg@pagea2.com]
Sent: Wednesday, June 13, 2012 9:31 AM
To: Chris Mettler, founder and CEO, CompareCards.com
Subject: RE: Interview Inquiry, insight, nearly

Fair Isaac has revealed some things about the so-called “credit utilization” ratio, but not what you claim.  When the company explains FICO scoring to a general audience, it applies general weights to major data categories such as, “Amounts Owed is 30 percent of a typical consumer’s score.”  It doesn’t break that weighting into finer parts for individual factors, both to avoid unintentionally misleading the public and to protect the model’s proprietary information.

However, recently, one outlet claimed that Fair Isaac said, “The credit utilization ratio is nearly 30% of a person’s credit score.”

Similarly, you made a statement regarding the importance of a factor, and attribute the information in it to Fair Isaac.  You appear to have knowledge of a statement by the keeper of the secret credit score formula that further defines it.

From: Chris Mettler
Sent: Tuesday, June 12, 2012 1:14 PM
To: Greg Fisher
Subject: Re: Interview Inquiry, insight, key factor

Not sure where all this is going

From: Greg Fisher [mailto:greg@pagea2.com]
Sent: Tuesday, June 12, 2012 1:00 PM
To: Chris Mettler, founder and CEO, CompareCards.com
Subject: RE: Interview Inquiry, insight, key factor

Who at Fair Isaac said—or where did the company state in writing—that credit utilization is a key factor in the Amounts Owed category?

From: Chris Mettler
Sent: Tuesday, June 12, 2012 10:58 AM
To: Greg Fisher
Subject: Re: Interview Inquiry, insight, 15 percent category

Length of Credit Score?

From: Greg Fisher [mailto:greg@pagea2.com]
Sent: Monday, June 11, 2012 5:22 PM
To: Chris Mettler, founder and CEO, CompareCards.com
Subject: RE: Interview Inquiry, insight, 15 percent category

What is the name of another category that accounts for 15 percent of a FICO score?

From: Chris Mettler
Sent: Monday, June 11, 2012 5:03 PM
To: Greg Fisher
Cc: Chrissy Bunkley, marketing & communications Specialist, CompareCards.com
Subject: Re: Interview Inquiry, insight

Hey Gregg-

Thanks for your question … I’ll just respond with what I believe I know …

When I made the below statement, I’m making an assumption that credit scorers don’t like to really see balance carry of above 30% in a given month. Obviously, the higher this number, the more chance of a lower credit score. I used 30% as a good threshold to stay under.

So, assuming that about 30% of your overall credit score is based on “Balances or Amount Owed”, I would estimate that 10% of the 30% number is attributed to the number of accounts with balances. Multiple revolving accounts with balances might signal that someone makes purchases beyond their means if they can’t pay this off each month.

Also, my wife grew up in Oakwood and loves Dayton – a throwback spot in this country – go Flyers!

Chris

From: Greg Fisher [mailto:greg@pagea2.com]
Sent: Monday, June 11, 2012 12:25 PM
To: Chris Mettler, founder and CEO, CompareCards.com
Cc: Chrissy Bunkley, marketing & communications Specialist, CompareCards.com
Subject: RE: Interview Inquiry, insight

You wrote: “The overall score is tabulated using several different categories of information that are each weighted depending upon their financial importance to lenders. Some account for 15 percent of your score, for instance, while other categories of your credit performance are worth more than that. Once of the biggies is the amount[SIC] owed, or in other words how much debt you are carrying compared to how much credit you have offered to you. According to Fair Isaac, credit utilization is a key factor in the amount[SIC] owed category – and that category makes up 30 percent of your score.”

If “amount[SIC] owed, or in other words how much debt you are carrying compared to how much credit you have offered to you” “and that category makes up 30 percent of your score,” then what percentage is made up by the Number of accounts with balances?

—
Greg Fisher
Page A
pagea2.com
PO Box 342
Dayton, Ohio  45409-0342

From: Chrissy Bunkley
Sent: Friday, June 08, 2012 4:04 PM
To: greg@creditscoring.com
Subject: Interview Inquiry

Hi Greg,

I’m reading over the Credit Score blog and notice that you feature a wide variety of topics on all things credit score and finance. I hope you don’t mind that I am using the email address that I found from one of your previous posts in where you personally contacted Rubert Murdoch and called him out for misreports of credit scores and job candidacy.  You’ve got some guts and I like it!

Let me back up, I’m Chrissy from CompareCards.com, an online credit card comparison website.  I’m writing to you because I’d like to offer you the opportunity to interview our founder and CEO, Chris Mettler.  Chris has been educating consumers on credit card trends since 2005.  His wealth of knowledge in financial responsibility is both informative and actionable for consumers and entrepreneurs alike.

Chris has been featured and interviewed in a number of news outlets, which you can find here: http://www.comparecards.com/in-the-news

If you are interested in this idea, I can connect you with Chris directly, who would be happy to share his insight with your readership.

Please let me know if you have any questions or would like to hear more about this opportunity.

Best,
Chrissy

———-

Chrissy Bunkley
Marketing & Communications Specialist
www.comparecards.com

Pittsburgh Post-Gazette corrections page blank, Block Communications

Posted on by

From: Greg Fisher [mailto:greg@pagea2.com]
Sent: Wednesday, August 22, 2012 9:16 AM
To: Allan Block, chairman, Block Communications (via K. Franck); John Robinson Block, publisher and editor-in-chief, Pittsburgh Post-Gazette
Cc: Heather Murray, manager, Education and Resource Development, Advantage Credit Counseling Service, Inc.; Susan Keating, president & CEO, National Foundation for Credit Counseling; Tim Grant, reporter, personal finance, housing and banking, Pittsburgh Post-Gazette
Subject: credit score, inquiries, Block Communications, Advantage Credit Counseling Service (dba Consumer Credit Counseling Service)

See this message and your response at http://pagea2.com/pittsburgh-post-gazette-corrections-page-blank-block-communications/.

You published

Also, be aware that the employer must have your written authorization to check your credit report prior to doing so. You can refuse the credit check, but it’s likely you will be ruled out as a candidate for the position. The credit check also will show up as a hard inquiry on your credit report, which may have a slight impact on your credit score.

In the comment section of the article, Chuck Burnett of www.creditreporting.com points out, correctly, that credit report inquiries made by employers do not affect credit scores.

Who is your source?

On your corrections and clarifications page, you state: “Corrections and clarifications of work published on post-gazette.com can be found posted to the bottom of the stories. The text of those corrections and clarifications will also be displayed here for several days for reader convenience.”

The space below that passage is blank.

—
Greg Fisher
Page A
pagea2.com
PO Box 342
Dayton, Ohio  45409-0342

 

From: Greg Fisher
Sent: Monday, January 31, 2011 6:36 PM
To: Tim Grant, reporter, personal finance, housing and banking, Pittsburgh Post-Gazette
Subject: RE: credit score, employers, Pittsburgh Post-Gazette, anonymity

Please answer the question.  Or, do you intend to use anonymous sources?

—
Greg Fisher
The Credit Scoring Site
creditscoring.com
PO Box 342
Dayton, Ohio  45409-0342

 

From: Tim Grant
Sent: Monday, January 31, 2011 4:52 PM
To: greg@creditscoring.com
Subject: RE: credit score, employers, Pittsburgh Post-Gazette

Greg — Sorry for the very delayed response, but I’m been swamped with urgent assignments and projects. From what I understand based on the research I’ve done, a bankruptcy or a very low credit score can impact a person’s security clearance for certain government jobs. Tim

Tim Grant
Staff Writer
Pittsburgh Post-Gazette
(412) [phone] (work)
(412) [fax] (fax)
[email address]
http://www.post-gazette.com

 

From: Greg Fisher [mailto:greg@creditscoring.com]
Sent: Thursday, January 06, 2011 11:03 AM
To: Tim Grant
Subject: RE: credit score, employers, Pittsburgh Post-Gazette

Regarding a citizen’s credit score, you wrote, “It affects every area of personal finances as far as the interest rates paid on loans, premiums for insurance and in some cases whether or not someone qualifies to work in certain career fields.”

Who is your source regarding credit score use by employers?

—
Greg Fisher
The Credit Scoring Site
creditscoring.com
PO Box 342
Dayton, Ohio  45409-0342