Thursday, April 23, 1998

Read Your Credit Report Carefully
By Mariano Goluboff ([email protected])

A couple of months ago, as my credit card balances neared zero, and the indulgences of my college years were almost paid in full, I decided it was time to take a peek at the health of my credit. Thus, I proceeded to the web site for one of the Big Bad Three Credit Reporting Agencies, and ordered my very own credit report!

About a week later, I received this piece of paper which looked like a monkey's random typing. After reading and re-reading the second page (instructions!), and cracking open the Esperanto dictionary (I knew that'd be helpful some day!), I was ready to decipher the chaotic patterns of letters and numbers that reflected my credit history.

As I patted myself on the back at seeing how happy my credit card companies were that I had never missed a payment, and with what glee my Credit Union reported that my car loan was A-OK, I spied a credit card account, with a zero balance, of which I knew nothing. I immediately called the bank and inquired "what's the deal, bank?" For some reason they had opened an account for me, and when they sent the little plastic card, the U.S. Postal Service returned it, thus I never found out about it. I promptly closed the account which was adding $7,500 to the potential debt I could get into, and patted myself on the back once again for ordering that credit report.

So, Fools, order that credit report periodically, and make sure it is spanking clean! Or at least that the blemishes are only those you put on it.

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