Equifax refused to restore his credit score or explain why it dropped to zero, until Go Public started asking questions.

Only then did the company point to its little-known policy: If a credit file sits inactive, the consumer may be labelled “unscoreable” and their score reset to zero. Tregear says the last time he checked, before it disappeared, his score was around a more respectable 700.

Go Public has since found a major flaw in consumer protection rules — that there are no laws or oversight on how credit scores are calculated, leaving credit bureaus to do what they want.

Consumer advocate Geoff White says that gives credit bureaus too much power, with no transparency.

If you fully pay off a debt that negatively impacted your credit, once paid, it should no longer hurt your score.

Credit scores should only be negatively impacted if you don’t pay it back, and they have to write it off or take collective action.

I have seen too many credit scores ruined by a few missed payments and its very silly.

I have seen too many credit scores ruined by a few missed payments and its very silly.

Very unlikely unless they already had a shaky credit history.

I closed my oldest credit card a bit ago, and it just dented my score by 30 for a few months before rebounding. I also missed a payment once (thought I had auto pay on, I didn’t) and as far as I remember it didn’t change my score.

Very unlikely unless they already had a shaky credit history.

The article says different.

I also missed a payment once (thought I had auto pay on, I didn’t) and as far as I remember it didn’t change my score.

You have to miss two payments (of any kind, not just a credit card) within a 12-month period for it to affect your credit score.

Equifax refused to restore his credit score or explain why it dropped to zero, until Go Public started asking questions.

Only then did the company point to its little-known policy: If a credit file sits inactive, the consumer may be labelled “unscoreable” and their score reset to zero. Tregear says the last time he checked, before it disappeared, his score was around a more respectable 700.

Go Public has since found a major flaw in consumer protection rules — that there are no laws or oversight on how credit scores are calculated, leaving credit bureaus to do what they want.

Consumer advocate Geoff White says that gives credit bureaus too much power, with no transparency.

This happened to my wife too. She had super high rating like whatever the highest is 790? 800? She bought a telus phone and plan. They didn’t have coverage where she lived, Telus blamed the phone, the phone manufacturer said it was the service carrier. She cancelled her account because she couldn’t use it, so they charged her $300 cancellation fee. She refused to pay so it went to collections. She negotiated with collections to pay it and restore her credit that was suffering. Whatever they did ended up being a complete reset to 0, we only found out when applying for a mortgage and they were like, no you have no credit at all, like you never existed.

Equifax refused to restore his credit score or explain why it dropped to zero, until Go Public started asking questions.

Only then did the company point to its little-known policy: If a credit file sits inactive, the consumer may be labelled “unscoreable” and their score reset to zero. Tregear says the last time he checked, before it disappeared, his score was around a more respectable 700.

Go Public has since found a major flaw in consumer protection rules — that there are no laws or oversight on how credit scores are calculated, leaving credit bureaus to do what they want.

Consumer advocate Geoff White says that gives credit bureaus too much power, with no transparency.

Equifax refused to restore his credit score or explain why it dropped to zero, until Go Public started asking questions.

Only then did the company point to its little-known policy: If a credit file sits inactive, the consumer may be labelled “unscoreable” and their score reset to zero. Tregear says the last time he checked, before it disappeared, his score was around a more respectable 700.

Go Public has since found a major flaw in consumer protection rules — that there are no laws or oversight on how credit scores are calculated, leaving credit bureaus to do what they want.

Consumer advocate Geoff White says that gives credit bureaus too much power, with no transparency.

The highest I think is 900, I’m capped at 835 because I don’t own a house.

The whole thing is a system to keep poor people poor.

How can this post created in the ‘Canada’ community be cross posted into the ‘Canada’ community? Somehow the same post got ‘created’ twice in the same community.

Which is weird right. No debt, lower score

This happened to my wife too. She had super high rating like whatever the highest is 790? 800? She bought a telus phone and plan. They didn’t have coverage where she lived, Telus blamed the phone, the phone manufacturer said it was the service carrier. She cancelled her account because she couldn’t use it, so they charged her $300 cancellation fee. She refused to pay so it went to collections. She negotiated with collections to pay it and restore her credit that was suffering. Whatever they did ended up being a complete reset to 0, we only found out when applying for a mortgage and they were like, no you have no credit at all, like you never existed.

Because you are not the customer. It doesn’t score for you, it scores the potential a lender can make money off of you.

Equifax refused to restore his credit score or explain why it dropped to zero, until Go Public started asking questions.

Only then did the company point to its little-known policy: If a credit file sits inactive, the consumer may be labelled “unscoreable” and their score reset to zero. Tregear says the last time he checked, before it disappeared, his score was around a more respectable 700.

Go Public has since found a major flaw in consumer protection rules — that there are no laws or oversight on how credit scores are calculated, leaving credit bureaus to do what they want.

Consumer advocate Geoff White says that gives credit bureaus too much power, with no transparency.

If you fully pay off a debt that negatively impacted your credit, once paid, it should no longer hurt your score.

Credit scores should only be negatively impacted if you don’t pay it back, and they have to write it off or take collective action.

I have seen too many credit scores ruined by a few missed payments and its very silly.

It never goes to zero because of bad debt. Even bankruptcy will never take it to zero. There is something very remiss about the ‘facts’ that you are trying to convince us are true.

The bank said no credit at all. As if she had never started an account. Edit: just like article states score set to zero due to unscorable.

Lol toxic dude blocked me. Figures

You read the article right?

When he checked his Equifax account, he saw his score had been wiped to zero — without warning or explanation.

Equifax refused to restore his credit score or explain why it dropped to zero, until Go Public started asking questions.

Only then did the company point to its little-known policy: If a credit file sits inactive, the consumer may be labelled “unscoreable” and their score reset to zero. Tregear says the last time he checked, before it disappeared, his score was around a more respectable 700.

Go Public has since found a major flaw in consumer protection rules — that there are no laws or oversight on how credit scores are calculated, leaving credit bureaus to do what they want.

Consumer advocate Geoff White says that gives credit bureaus too much power, with no transparency.