Category: Social media

London publishing house hype

“Gah! If I read one more lie about credit scores, my head will explode! No, your lender is NOT required to consider ‘alternate measures.'” – @lizweston, September, 2012

From: Greg Fisher [mailto:greg@creditscoring.com]
Sent: Tuesday, October 02, 2012 11:32 AM
To: Liz Weston; Liz Weston (via Amazon.com)
Cc: Vivienne Cox, non-executive director, Pearson plc (via W. Spiegel); Glen Moreno, chairman, Pearson plc (via T. Glover); Marjorie Scardino, chief executive, Pearson plc (via C. Goldsmith)
Subject: credit score, employers, Pearson plc, Weston

See this message and your response at https://blog.creditscoring.com/?p=4215.

On the cover of the fourth edition of your credit score book, someone wrote, “Your credit score is more important than ever: not just for getting loans, but for getting jobs, insurance, rentals, and fair rates on all financial services.”

The cover continues—describing the book—saying: “Now, it’s completely revamped for today’s massive changes—from FICO 8 to ‘FAKO,’ short sales to employer abuse of credit scores” and “Whatever your score, you need this information—to defend yourself, and to get the credit, rates, work, and home you deserve!”

However, on page 185, you wrote, “I didn’t write about employer use of credit checks in previous editions of this book, because employers look at credit reports, not credit scores.”

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

On what date did you learn about the text on the cover?

What is the name of the person who wrote it?

What are the names of the persons who approved it?

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

 

A reply from a Patch editor

[PREVIOUS MESSAGE]

Tim Armstrong is the chairman and CEO of AOL. That means that he is in control (if you can call it that) of the Huffington Post and Patch. When Armstrong was asked for the source of a claim on Patch, the response came from a Patch editor:

From: Rebecca McCarthy
Sent: Wednesday, August 15, 2012 3:21 PM
To: greg@creditscoring.com
Subject: Re: credit score, employers, Athens Patch, AOL

The author of the story.

On her page titled, “About Rebecca About Rebecca“[SIC] McCarthy states, “I worked as a staff writer for the Atlanta Journal Constitution, and for other newspapers.”

Key factors that adversely affected your credit score

See “Credit rating companies and the FICO need more oversight” published on The Hill’s Congress Blog (“Where lawmakers come to blog”).

From: Greg Fisher [mailto:greg@creditscoring.com]
Sent: Wednesday, April 11, 2012 11:28 AM
To: L. Michael Hager, former director general, International Development Law Organisation; L. Michael Hager, former director general, International Development Law Organisation (2)
Subject: credit score reason codes

See this message and your response at https://blog.creditscoring.com/?p=3826 and https://blog.creditscoring.com/?tag=the-hill.

You wrote about the “‘key elements’” affecting one’s credit score.

Credit score company FICO’s illustration of the disclosure of the “Key factors that adversely affected your credit score” contains four “factors.”  They are required to be listed in order of their importance.

What is the first one on your disclosure?

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

Forbes’ attempt at hipness; Forbes’ correction policy

Ah, youth, and fabulous New York.

The “journalist,” “Interactive Editor,” and “web editor” now works for Reuters, who has it all figured out.

And if you think that’s rich…

 

[ORIGINAL MESSAGE]

From: Greg Fisher [mailto:greg@creditscoring.com]
Sent: Wednesday, July 20, 2011 11:43 PM
To: Heather Struck, reporter, Forbes; Heather Struck, reporter, Forbes
Subject: credit score, employers, Forbes, 2011-07-20

See this message and your response at https://blog.creditscoring.com/?p=2274, https://blog.creditscoring.com/?cat=134 and https://blog.creditscoring.com/?tag=forbes.

You wrote

But one’s creditworthiness, as reflected in a FICO score or a credit report, now affects a lot more than the ability to borrow money or buy something on credit. It can affect whether you get a job, what you pay for insurance, and even how your personal relationships work out.

and

Employment consultants say a troubling credit score may cause hiring officers to more closely question an applicant. Vic Tanon, chief simplicity officer at Emplicity, an organization that consults in hiring practices across the U.S., says a bad credit rating is likely to be more of a factor in certain industries like financial services.

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

 

 

From: Greg Fisher [mailto:greg@creditscoring.com]
Sent: Monday, July 25, 2011 3:10 PM
To: Vic Tannon, chief simplicity officer, CEO, founder and president, Emplicity
Cc: Heather Struck, reporter, Forbes; Heather Struck, reporter, Forbes; Monie Begley, Forbes
Subject: RE: credit score, employers, Forbes, 2011-07-20, Emplicity

Did you discuss the topic of credit scores with Forbes?

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

 

 

From: Struck, Heather
Sent: Monday, July 25, 2011 3:09 PM
To: Greg Fisher
Subject: Out of Office: credit score, employers, Forbes, 2011-07-20, Emplicity

I am out of the office at a Fellowship orientation until July 31. Please excuse my late replies to emails. If you need immediate assistance, please contact Tina Russo. [Russo’s email].

 

 

From: Greg Fisher [mailto:greg@creditscoring.com]
Sent: Monday, July 25, 2011 9:28 PM
To: Tina Russo, senior editor, Forbes
Subject: FW: credit score, employers, Forbes, 2011-07-20, Emplicity

—–Original Message—–
From: Struck, Heather
Sent: Monday, July 25, 2011 3:09 PM
To: Greg Fisher
Subject: Out of Office: credit score, employers, Forbes, 2011-07-20, Emplicity

I am out of the office at a Fellowship orientation until July 31. Please excuse my late replies to emails. If you need immediate assistance, please contact Tina Russo. [Russo’s email].

 

 

From: Struck, Heather
Sent: Wednesday, August 31, 2011 5:56 AM
To: greg@creditscoring.com
Subject: RE: credit score, employers, Forbes, 2011-07-20, Emplicity

Dear Greg,

My apologies for not responding to this until now. I am unsure if you spoke directly with him, but Vic Tannon was my source for that statement. Perhaps there is something you can add?

Heather Struck
Forbes
Markets, New York
[phone]
Follow me: http://blogs.forbes.com/people/hstruck/

 

 

From: Greg Fisher [mailto:greg@creditscoring.com]
Sent: Wednesday, August 31, 2011 7:43 AM
To: Heather Struck, reporter, Forbes
Cc: Monie Begley, Forbes; Tina Russo, senior editor, Forbes; Vic Tannon, chief simplicity officer, CEO, founder and president, Emplicity
Subject: RE: credit score, employers, Forbes, 2011-07-20, CRAs

The consumer reporting agencies do not provide credit scores for employment purposes.

What correction will you make?

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

 

 

From: Struck, Heather [mailto:HStruck@forbes.com]
Sent: Wednesday, August 31, 2011 8:01 AM
To: greg@creditscoring.com
Cc: Begley, Monie; Russo, Tina; Vic Tannon, chief simplicity officer, CEO, founder and president, Emplicity
Subject: RE: credit score, employers, Forbes, 2011-07-20, CRAs

I understand your point, but it is very clearly sourced. The point there is some occupations have been known to look at credit scores in an evaluation, according to this source. I agree this point needs clarification, and you are very welcome to post a comment on the story.

http://www.forbes.com/sites/heatherstruck/2011/07/20/credit-score-fico-can-hurt-you/

Thanks for the note,

Heather Struck
Forbes
Markets, New York
[phone]
Follow me: http://blogs.forbes.com/people/hstruck/

 

 

From: Greg Fisher [mailto:greg@creditscoring.com]
Sent: Wednesday, August 31, 2011 1:12 PM
To: Heather Struck, reporter, Forbes
Cc: Monie Begley, Forbes; Tina Russo, senior editor, Forbes; Vic Tannon, chief simplicity officer, CEO, founder and president, Emplicity
Subject: RE: credit score, employers, Forbes, 2011-07-20, clarity

Only you mentioned clarification so there is nothing to agree upon.

According to consumer reporting agency TransUnion, a “rating” is the manner of payment of an individual account.

Who are your other sources?

What authority do you, as the writer, have in making corrections of errors of fact, or clarifications of unclear stories or attribution published by Forbes?

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

 

 

From: Struck, Heather
Sent: Wednesday, August 31, 2011 2:00 PM
To: greg@creditscoring.com
Subject: RE: credit score, employers, Forbes, 2011-07-20, clarity

My editor has authority to make corrections. You can be in touch with him if you like.

Matthew Schifrin – [email address]

Thanks –

Heather Struck
Forbes
Markets, New York
[phone]
Follow me: http://blogs.forbes.com/people/hstruck/

 

Et tu, Suze?

Credit score expert (there are few) John Ulzheimer is a Nonbeliever.

Recently, while schlepping her new prepaid card, Emmy award winner and “internationally acclaimed personal finance expert” Suze Orman has been saying, inaccurately, that employers use credit scores.  However, employers do not use credit scores; they cannot even get them.  One media organization who allowed her to make the statment even edited it out.

Yesterday, Ulzheimer wrote, “My request [to Orman] was very simple: can you please stop saying that employers use credit scores?”

The inaccurate information may never end.

inaccurate information, correction policy, factual error, msnbc.com, Comcast / Microsoft

From: Greg Fisher [mailto:greg@creditscoring.com]
Sent: Thursday, February 23, 2012 1:51 PM
To: Bill Gates, chairman, Microsoft (via Waggener Edstrom Worldwide); Brian L. Roberts, chairman and CEO, Comcast Corporation (via Adam Miller, EVP, Corporate Affairs, NBCUniversal, Comcast)
Cc: Bob Sullivan, reporter, msnbc.com, NBCUniversal, Comcast / Micorsoft; D’Arcy F. Rudnay, senior VP, corporate communications, Comcast
Subject: inaccurate information, correction policy, factual error, msnbc.com, Comcast / Microsoft

You published: “An HR department facing a stack of 100 resumes for one job would love a numerical tool that could automatically whittle the pile to five or six. HR departments already do some of this whittling based on credit scores.”

That is inaccurate information.  Consumer reporting agencies do not provide credit scores for employment purposes.

Who is your source?  What is your correction policy?  Will you make a permanent correction and acknowledge the factual error on the story’s original page?

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

 

Forbes misinformation about credit scores (typo also)

“The Dirty Secret About Your Credit Score” is a deliciously seductive title of an inaccurate article on Forbes.com from Investopedia (too many –pedias) which is owned by ValueClick.

The filthy secret (are you sitting down?) is this: Loan interest rates are based on credit scores.

See “variable pricing” (now known as risk-based pricing) on creditscoring.com, circa 1998.

Before that 2010 shocker from ValueClick, in a typical introduction, the piece states, “It is a deciding factor for landlords in picking renters and some employers use credit scores to find dependable workers.”

Employers do not use credit scores because they cannot even get them (despite the story going around in Colorado the Colorado statehouse).

That rumor has a friend at Forbes (named Forbes).  Recently, Fair Isaac myFICO.com service namesake Suze Orman showed up and talked to a Forbes family member and did the deed.

Sloppy, sloppy, sloppy, New York.  And, there is a typographical error.  The ValueClick story says, “It determines the cost of majorpurchases[SIC] like cars and homes.”

At least they didn’t use the word even.

 

credit score, employers, LSU, Freakonomics

From: Greg Fisher [mailto:greg@creditscoring.com]
Sent: Wednesday, January 04, 2012 12:07 AM
To: Steven D. Levitt, William B. Ogden distinguished service professor of economics, University of Chicago; Stephen J. Dubner, award-winning author, journalist, and radio and TV personality
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
Subject: credit score, employers, LSU, Freakonomics

I study the corrections made by powerful people when they discover that they published as the truth the urban legend that employers use credit scores.

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

 

Wikipedia’s Jimmy wales on myth about employers using credit scores

When the person most associated with Wikipedia edits a Wikipedia article, it’s news.  But, today, his side–the truth–is losing.  Here is what has happened, so far.

December 8.  Wikipedian user 168.103.203.229 adds “Employers look at a[SIC] applicants[SIC] credit score prior to offering a position for employment and has[SIC] stirred controversy in many states,” a bogus (if not, ungrammatical) claim.  It is the first and last entry by that user.

December 10. @creditscoring tweets “Christmas came early this year. https://blog.creditscoring.com/?p=2997 So, #nowwhat, @jimmy_wales and #wikipedia?”

December 11. @jimmy_wales removes the inaccurate information.  The revision states, “rm unsourced controversial claim.”

December 12. Wikipedia user Cookiehead adds, “In 2009, TransUnion representatives testified before the Connecticut legislature about their practice of marketing credit score reports to employers for use in the hiring process.”

December 13. @creditscoring tweets “.@jimmy_wales TransUnion testifies on credit scores in employment. https://blog.creditscoring.com/?p=3013.”

The link connects to a quote of a TransUnion official who (in 2009 and before the Connecticut legislature, no less) testified, “Now, credit scores aren’t used in employment decisions so let’s get that straight.”

 

@Experian can’t make up its mind on employers using credit scores

While the head of Experian (the sheriff of Nottingham) continues his 2-year resignation, the consumer reporting agency remains internally conflicted regarding the urban legend that employers use credit scores.

The San Francisco Chronicle reports, (Experian spokeswoman Susan) “Henson says the report Experian provides to employers excludes some information given to lenders, such as a credit score, year of birth, any reference to a spouse and “any account numbers not relevant to the hiring decision.'”

Experian, itself, states, “Experian’s Employment Insight report includes similar information about loans and credit cards that is listed in the credit report. It does not include year of birth, spouse reference, account number or credit score, which are irrelevant to hiring decisions” (click on “Bad credit doesn’t impact candidates getting hired.”).

Experian also says: “Employers never get a credit score. Unfortunately, that is a very common misperception” (click on “Do employers actually pull the credit report from the credit reporting company or do they pull just the score?”).

However, elsewhere, Experian says (tweets, actually), http://mashable.com/2011/08/09/linkedin-profile-job-search/ to help get you closer to that job offer (the one that requires a background check complete with credit score!).

And here’s another doozy (as reported by creditscoring.com) from Experian: “More Employers Check Applicants’ Credit Scores.”

Wassup Sheriff Knightman?