Jean Chatzky’s dilemma

Employers do not use credit scores.  Can’t even get ‘em.

The second tab after “Home/Blog” on JeanChatzy.com is “Score Builder.”  The landing page says, “Better credit in 120 days, powered by Smart Credit.”

On Oprah.com as she explained the number that she thinks “is widely considered to be a measure of how responsble a human being you are,” Jean Chatzky said, “You may even have an easier time getting a job as many employers these days are checking out credit scores because they want to hire responsible employees.”

Then she plugs Credit.com and CreditKarma.

[Wonks: She also gives the score scale as 350-850, but let’s not quibble over that– boring.]

Meanwhile, over at NBC, (where it counts, apparently), Chatzky finally comes to terms with her misinformation.  In a segment for NBC’s Today, she said (finally):

It’s a really good question, and we did get a lot of response to that thought that employers are checking credit histories.  About 16% of them actually are.  What they’re not seeing is your credit score.  They’re seeing your credit report.

 

Visit msnbc.com for breaking news, world news, and news about the economy

 

Inexplicably, however, her blog post (“Posted by Jean”) about that appearance states, “On Today’s Money 911 we talked about what employers that check credit scores are looking for and gave tips for finding a job over 60.”

Previously, as Matt Lauer did the deed (as many do in their introductions to the topic) Chatzky remained silent. (2:09)

Poor Oprah (dot com).

Oprah was unavailable (but the train station never looked better).

So, what happens, now?

Talk back to your screen

From: Greg Fisher [mailto:greg@creditscoring.com]
Sent: Thursday, April 12, 2012 12:28 PM
To: Brian L. Roberts, chairman and CEO, Comcast Corporation (via Adam Miller, EVP, Corporate Affairs, NBCUniversal, Comcast)
Cc: Allen Wastler, managing editor, CNBC.com; Daniel Bukszpan, staff writer, CNBC.com, Comcast; Daniel Bukszpan, staff writer, CNBC.com, Comcast (2); Jennifer Dauble, director, public relations, CNBC; Bernard T. Gugar, Harpo Productions; Steve J. Bernas, president/CEO, Better Business Bureau of Chicago and Northern Illinois, Inc.; MSNBC.com; MSNBC.com (2)
Subject: RE: US national average credit score, “States with the best credit scores” II

Do you mean to tell me that you actually believe that the national average credit score could have decreased by 22 points in 11 days?

No way.  Really?

Chicago Union Station, TO ALL TRAINS

Chicago Union Station, TO ALL TRAINS

On a recent whistle stop trip to New York (via Chicago), I was able to make a small dent in the misinformation about credit scores.  However, these things have a life of their own, and I am not sure that Oprah Winfrey got my message (sent directly to her lawyer, however!).  The inaccuracy on her website still exists.  She even published this: “That history is digested by a company called Fair Isaac and converted into your credit score, which ranges from 350 to 800.”

Ha, ha!

That’s not true, of course, and it’s an old story.  But, even the New York Times fell for Experian’s campaign, so don’t feel bad.  Like the Times (until enlightened), you’re just in a Funk.


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

[prevous message]

Efficacy of email

From: Greg Fisher [mailto:greg@creditscoring.com]
Sent: Monday, April 09, 2012 4:00 PM
To: Brian L. Roberts, chairman and CEO, Comcast Corporation (via Adam Miller, EVP, Corporate Affairs, NBCUniversal, Comcast)
Cc: Allen Wastler, managing editor, CNBC.com; Daniel Bukszpan, staff writer, CNBC.com, Comcast; Daniel Bukszpan, staff writer, CNBC.com, Comcast (2); Jennifer Dauble, director, public relations, CNBC
Subject: US national average credit score, “States with the best credit scores”

See this message and your response at http://blog.creditscoring.com/?p=3822 and http://blog.creditscoring.com/?tag=nbc.

On March 29, you published: “In January 2010, the average credit score in the United States was 692, according to Experian’s National Score Index... [t]oday, it’s between 700 and 710… ”

However, according to Experian, the “National Score Index” is 687.

Your error correction format is honorable.  But, accuracy aside, the efficacy of email is in question.  Did you get my message of March 1?


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

 

The Matrix: NBC, Reuters, Suze Orman, FICO and American Public Media

They did the dirty deed, spreading the big credit score urban legend.

Hardy har har.  There’s a tongue in cheek campaign to replace Suze Orman with Reuters’ tough Lauren “I demand a lot of answers” Young. But, in reality, it’s a perfect match.  That is, they both believe the same myth: that employers use credit scores.

Oh, those British and their dry wit.

 

Comcast typo: Unnecessary extra space in credit score and employers story

From: Greg Fisher [mailto:greg@creditscoring.com]
Sent: Friday, November 11, 2011 11:36 AM
To: Brian L. Roberts, chairman and CEO, Comcast Corporation (via Rudnay address); Linda Carroll, The Body Odd, msnbc.com, Comcast
Cc: Jeremy Bernerth, assistant professor, Robert H. & Patricia Hines Professorship in Management, Rucks Department of Management, E. J. Ourso College of Business, Louisiana State University; Shannon G. Taylor, assistant proessor, management, Northern Illinois University; Jack Walker, assistant professor, Rawls College of Business, Texas Tech; Daniel S. Whitman, assistant professor, Rucks Department of Management, Louisiana State University; Ashley Berthelot, Media Releations, Louisiana State University; Michael Kesterton, columnist, The Globe and Mail, Thomson; Globe and Mail corrections, Thomson; John V. Lombardi, president, Louisiana State University; Melba J. T. Vasquez, PhD, president, American Psychological Association
Subject: RE: credit score, employers, LSU, mainstream, Comcast NBC 

You published, “Employers who use credit scores in their hiring decisions  might be weeding out some of the best applicants, a new study suggests.”  

You used an unnecessary extra space after the word decisions.  Also, the consumer reporting agencies do not provide credit scores for employment purposes.  

You still have not corrected your earlier stories.  If you are too busy to do so, please relinquish controlling interest in NBC to somebody who actually gets journalism ethical behavior.

What is your correction policy?


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

 

From: Greg Fisher [mailto:greg@creditscoring.com]
Sent: Wednesday, November 09, 2011 1:10 PM
To: Jeremy Bernerth, assistant professor, Robert H. & Patricia Hines Professorship in Management, Rucks Department of Management, E. J. Ourso College of Business, Louisiana State University; Shannon G. Taylor, assistant proessor, management, Northern Illinois University; Jack Walker, assistant professor, Rawls College of Business, Texas Tech; Daniel S. Whitman, assistant professor, Rucks Department of Management, Louisiana State University
Cc: Ashley Berthelot, Media Releations, Louisiana State University; Michael Kesterton, columnist, The Globe and Mail, Thomson; Globe and Mail corrections, Thomson; John V. Lombardi, president, Louisiana State University; Melba J. T. Vasquez, PhD, president, American Psychological Association
Subject: RE: credit score, employers, LSU, mainstream, NYT latest to fall

The first sentence of the abstract of your research still… [PREVIOUS EMAIL ATTACHED]

Myth: Employers use credit scores (video) – National Financial Literacy Month

National Financial Literacy Month – Video illustrates myth that employers use credit scores

creditscoring.com video shows media, experts, central bank and legislators furthering the myth that employers use credit scores in hiring decisions.

Myth: Employers use credit scores

Myth video: Employers use credit scores

credit score, employers, NBC, San Diego, KNSD NBC 7/39, round 2

From: Greg Fisher
Sent: Thursday, September 23, 2010 10:44 PM
To: Bob Hansen, NBC Universal, NBC 7/39 News, San Diego
Cc: Greg Dawson, vice president, News, NBC 7/39, San Diego; tips@nbcsandiego.com; isee@nbcsandiego.com; newsletters@nbcsandiego.com; feedback@nbcsandiego.com; SoundDiego@nbcuni.com; knsd.feedback@nbcuni.com; Gillian M. Lusins, NBC Universal Law Department; Gary Sheffer, Vice President, Communications & Public Affairs, GE
Subject: RE: credit score, employers, NBC, San Diego, KNSD NBC 7/39 II, not so fast

Actually, that document states, “An employment report provides everything a standard credit report would provide. However it doesn’t include your credit score or date of birth.”

You are not the first to try to use that page to attempt to justify a comment about job screening and credit scores.  Your page still says, “That score can influence a landlord or a potential employer.”  When are you going to change it?

Did you broadcast that story on the public’s airwaves?

Do you know Matt Lauer?  What’s his email address?  I want his source, too.

credit score, employers, NBC, San Diego, KNSD NBC 7/39

From: Greg Fisher [mailto:greg@creditscoring.com]
Sent: Saturday, September 18, 2010 1:21 PM
To: Bob Hansen, NBC Universal, NBC 7/39 News
Subject: credit score, employers, NBC, San Diego, KNSD NBC 7/39

You wrote, “That score can influence a landlord or a potential employer.”

Who is your source regarding credit score use by employers?

[UPDATE 9/20/2010]

From: Greg Fisher [mailto:greg@creditscoring.com]
Sent: Monday, September 20, 2010 10:55 PM
To: Bob Hansen, NBC Universal, NBC 7/39 News, San Diego
Cc: Greg Dawson, vice president, News, NBC 7/39, San Diego; tips@nbcsandiego.com; isee@nbcsandiego.com; newsletters@nbcsandiego.com; feedback@nbcsandiego.com; SoundDiego@nbcuni.com; knsd.feedback@nbcuni.com; Gillian M. Lusins, NBC Universal Law Department
Subject: RE: credit score, employers, NBC, San Diego, KNSD NBC 7/39 II

Did you just make it up?

Greg Fisher
The Credit Scoring Site
creditscoring.com
PO Box 342
Dayton, Ohio  45409-0342
937-681-3224

NBC TODAY: Employers use credit scores

The consumer reporting agencies all state that they do not provide credit scores for employment screening.

However, last month on NBC, “TODAY” host Matt Lauer introduced a segment with this line:  “This morning on TODAY’S MONEY, five ways to improve your credit score. It impacts all areas of your life from getting loans to how much you pay for insurance, even whether or not you might get a job.”

The interviewee, “TODAY” financial editor Jean Chatzky, does not disagree with Lauer’s statement.

Visit msnbc.com for breaking news, world news, and news about the economy

Earlier this year on ABC‘s “Good Morning America,” George Stephanopoulos said that your credit score is the key to getting a good job.  CBS did the dubious deed three years ago.