This rant about Experian will be extremely edifying as this writer has nothing but harsh criticism for a credit reporting bureau that has way too much control over the lives of hard working Americans. To declare this an article about Experian Issues would be a gross understatement. I am certain that a very high percentage of Americans have had Experian nightmares.
Due to my identity being compromised when I lived in Houston, TX, I placed a security freeze on my Experian, Equifax, and TransUnion credit information. This means that if somebody wanted to fraudulently open a credit card account or any other line of credit in my name, the state of my credit worthiness(credit score) would not be released and the identity thief would not be able to open a line of credit which could possibly ruin my credit score.
A bad credit score means you can not live in the nice house in the friendly neighborhood you prefer, or drive a new car, or possibly even get the job you want since some employers run credit histories on potential employees.
Now let me tell you how I hurt Experian by taking business away from a lender(bank) that requires an Experian credit check before they will approve loan. We were allowed to drive a brand new car out of the parking lot of the dealership about 2 months ago after getting a sweet zero down payment, 2.9% APR deal on a 2015 Toyota Camry.
Here is where it gets unbelievable. The next day, the salesman called me and said in order to process the loan, I would have to unfreeze my Experian credit info. Experian had issued me a PIN to do just that. When I tried to thaw my account with them online, their system indicated I would have to halt the security freeze by snail mailing photocopies of my Social Security Card, Drivers License and also copies of utility bills, etc. along with a 10 dollar check AND that none of this could be handled over the phone!!
I was ready for all this because it is well known that Experian systematically makes it difficult for customers to communicate with them often hanging up on customers who need Experian’s help to get that new card or home mortgage loan approval.
The salesman told me I had no choice because the lender required an Experian credit pull. I told salesman if he could not hook me up with a lender who did NOT need Experian, that I would bring car back and his dealership would lose my business forever.
After a very pregnant silence, I was passed on to the finance manager who gladly found another lender that did NOT require an Experian credit history pull. YES!, I even got a better interest rate and my new lender only needed Equifax and TransUnion.
So dear fellow car buyers, please realize that if you have a decent credit score, you can rip the hearts out of lenders who require Experian. JUST REFUSE to accept a loan where pulling an Experian credit history is required. It is that easy.
The bank that required them lost my business($23,000 car loan) to a bank that only required Equifax and TransUnion. The only way I know to put any company out of business is to NOT pay for their goods or services.
PLEASE SAY NO! TO LENDERS who require Experian so you can put those gutless, lowlife, financial vampires in Allen, Texas out of business!