Credit card logosConsumer advocacy group the Consumer Federation of America, along with generic credit-score provider VantageScore Solutions, released the results of new research showing that most of us don't know as much as we should about credit scores, a knowledge gap that can prove costly. According to the two organizations' survey of 1,000 Americans, more than one-fifth of respondents admitted their knowledge of credit scores was "poor," according to survey data. As it turns out, even those of us who think we know credit scores may overestimate our grasp of the facts. For instance, a significant number believe a person's age or marital status affect their credit score.

People who are proactive about their scores tend to be more aware and, as a result, be more familiar with the ins and outs of the credit-scoring system. Survey respondents who had obtained their numbers scored 10 percentage points higher on the survey questions than those who had never obtained a credit score. Even with this advantage, a shocking 71% of respondents failed to correctly answer which types of service providers use credit scores to determine who can get credit and at what price.Fewer than one-third of respondents answered correctly when asked how much more a person with a poor credit score would pay for a $20,000, 60-month auto loan than a person with a high score. The answer? Low-scoring individuals will pay an average of $5,000 more in interest over the life of the loan, a significant sum. In addition, many respondents failed to realize that non-financial transactions, such as obtaining homeowners' insurance or a cell phone contract, can be impacted by our credit scores.

Fewer than half of respondents knew that so-called credit repair services are not helpful. As we've pointed out in the past, these companies make money by promising a quick fix to your credit -- even though this is impossible for the most part, and the few things that can be done to rectify a score (such as correcting an error) can be done by the consumer, for free.

To enhance Americans' credit score knowledge, CFA and VantageScore combined forces to create an online quiz that tests peoples' savvy when it comes to credit scores. The site,, includes the quiz as well as correct answers in case you need to brush up on your information.

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Do yourself a "HUGE FAVOR" and carefully read this:

The 21st Century Act: Final Amendments to Regulation CC Section:
"Prohibits" reimbursement of Credit, Loan, and Finance Balances to a "Bank Entity" leaving only "Nonbank Consumers" able to receive reimbursement, as specified on Pages 85 and 86.

The 21st Century Act states on pg. 85 and 86 that "Only Nonbank Consumers can suffer losses and File for
Re-credit or Re-claim on any Accounts under the Federal Reserve System" also “Any Second or Third Party Presenters utilizing a Banks Documentation, Contracts and/or Agreements to seek Claims shall be considered to be that Bank under the Rules and Regulations”, the Expanded Definitions also includes Credit Cards and Home Equity Lines of Credit.
Also on Pages 100 and 101 "In any Financial Claims the Indemifying Bank (Parent Bank) must be Identified".

(Left-Click to Search Link)
21st Century Act: Final Amendments to Regulation CC

This Federal Law signed January 1, 2006 makes it "Fraudulent" and therefore "Illegal" for the 3 Major Personal Credit Reporting Agencies: Equifax, Experian, and TrasUnion to allow the Banks and the Banks "Third Party Presenters" to place any claim of "Negative" or "Potentially Negative" Accounts on your Personal Credit Based upon the fact that they have no "Legal Grounds or Claim" to the Money.

This is an "Unfair Practice" that diminishes our Financial ability to support ourselves and adversely affects our ability to gain work in many areas which breaks "Antitrust Laws".

These Rules also back claims of: "Aiding and Abetting" Racketeering and Extortion (of Finance Accounts and Personal Credit Reports), Pandering (of Credit and Loan Accounts, and Conspiracy to wit), Theft, Fraud, Federal Mail Fraud, and Telephone Harassment. Also "Threatening of the U.S. Financial Infrastructure", which is a "Capital Crime".

In order to engage the Federal Trade Commission to act against this injustice we must File many Claims, as these Reports must be Filed by a large number of people in order for the Federal Trade Commission to pursue
"Legal Action".

(Left -Click to engage Email Address)

This is way easier than "Occupying Wall Street"!

March 11 2012 at 4:50 PM Report abuse rate up rate down Reply

While I was looking for a credit report site, my firend told me about a site, that offer:

- 100% Free 3 in 1 Credit Report
- Credit Monitoring
- Fraud Protection

All in one...

I tried it and I'm so satisfied with them.I just wanted to recommend you that site:

January 12 2012 at 5:25 AM Report abuse rate up rate down Reply