Credit Reports: Last Week Tonight with John Oliver (HBO)

Publicerades den 11 apr 2016
Credit reports play a surprisingly large role in our lives, but even more surprising is how often they contain critical mistakes. John Oliver helps credit agencies see why this is a problem.
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Kommentarer

  • This type of shit mixed with all the other shit makes America sounds like the worst 1st world country to live in! Number 1? Number 1 my arse! You guys need to get your heads out and put and end to all this bullshit! Why do you let these fuckers get away with it? Your either all very dumb, or naive...

  • The whole credit score approach should be reviewed in Canada and the USA. Let’s make these companies be accountable and much more transparent. Read below to see just how incredibly corrupt this credit score scam is: I discovered several years ago that my credit score wasn't what I thought it was at all. The only way that I could see and monitor my score was to pay either Equifax or Transunion a monthly fee. So I reluctantly started paying Transunion and I then saw that my score was much lower than I had anticipated. One of the reasons stated was that my bank, RBC, had complained of me paying late. This surprised me, so I called the RBC bank head office and they looked into it and came back and told me that my record with them was clean and that they could not find any credit complaints. So I called Transunion, which always means being put on hold for very long periods of time. I told them what RBC had said, expecting them to investigate and improve and change my score. Instead they could do nothing about it as they can only “monitor and advise”. They said that I could pay an extra fee and they would send my complaint to a central group for an investigation. I did that and several weeks later, I was simply advised that my claim was rejected without explanation! I asked Transunion why there was no explanation and they said that they have no idea and their only job is to monitor and advise, which they clearly were doing a terrible job of carrying out. Unfortunately I had to continue paying Transunion each month after that in order to see my score and hopefully slowly see it improve. It has been a very long road, despite paying all of my bills each month on time. At one point my score that had been steadily improving to a score of 711 and then it suddenly dropped several points to 698. Even in the online report, it showed that all of my bills were paid on time etc... So I called Transunion to complain and they had no explanation. The fellow simply said, these things happen some time, as they have a complex formula and things would even out in the long run... We then sold our house for a very good profit and I completely paid off all of our loans. I waited for the better part of a month, expecting a jump in credit and it merely went up to a score of 717. Then shortly after, I happened to find out that I was able to see my credit score via my online RBC bank account online. To my surprise it was also via Transunion. I expected to see the exact same score as I had been viewing on my online Transunion account. To my shock, the score was at 811, much higher than I saw at the TransUnion site! I waited several days, to see if perhaps the RBC score was just an advanced score, already reflecting my loan payments; but when I looked again the Transunion score had not changed, So I called Transunion and was told that they are 2 different models. He asked me which model RBC had. I said that it clearly stated that I could see my credit score, not which model. He replied that they have several models and they are complex. So I asked, “well, which score is correct?” He then told me that the RBC model was less efficient than their’s, even though they are both TransUnion! I asked again, so which is correct? He said “the RBC one is not a true credit score”! I replied that”I bet that RBC would be shocked to hear that, when they are telling customers that their’s is your actual credit score!” I then told him that the whole credit score system was a scam. I cancelled my account at that moment. What a complete rip-off! I have since retired and when I looked online via the RBC bank, my score has dropped several points once again without an explanation. I owe nothing. I pay all of my bills on time each month. I have a steady and very reasonable monthly pension payment. I pay most of my bills via my credit card, in order to gain points; but I make sure that my credit card bills are completely paid off each month. So I am still establishing plenty of credit. We have a lot more savings in our bank account now than we ever have before. How in the world can our credit score be dropping by several points? Why do these credit score companies make or break us without any accountability or responsibility? Why don’t we insist on getting fair impartial hearings when we have disputes? This is fairly critical to the average citizen’s financial security! Also, why don’t we get to score the companies performances, including these credit score companies. There should be financial repercussions for companies who are scored badly by the citizens and it should be scored on ethics, Customer Service, financial viability etc...

  • credit report are shit scam what is the point of paying for one when the companies check it get another one

  • Credit, is another word for debt. It's bullshit jargon. Why would anyone or anything give you money you haven't earned because you have good credit? It just means you're a great candidate that will pay your debt more than likely on time. So we can lend you more... With more interest rates.

  • I just had to get a background check done for an internship a few weeks ago and I foolishly opted out of receiving a copy of the background check, as I know my background is clear and figured it was unnecessary. Won't be doing that again! It went through fine as far as I know, at least they haven't told me they're withdrawing my job offer so there's that.

  • "Can you please prove that you're not dead?" "I'm standing right in front of you." "Sorry, the records still say that you're deceased." "Helloo, can you hear me talking?" "Can you please sign this form so we can undergo more record checking to see if you're actually dead or not?"

  • Minus the semi liberal agenda,,, Love this man.

  • Why do these agencies even exist? Just let 1 gov entity handle it... And even more why 3 of them, just so you have to update errors 3 different times to create more stress?

  • My mom added me to her Sam's club card and her business credit showed up on my credit report. In my case it actually helped my score because it showed me having an active and up to date 10k line of credit.

  • I haven't bought shit in 6 years

  • WHEN DOES JOHN ACCEPT HIS FATE AND TAKE OVER THE LAST 3 SEGMENT OF '60 MINUTES' TO MAKE SOME WITTY COMMENT ON AMERICA AND POP CULTURE?

  • Investigate 311

  • You forgot to touch on the power that afíliate creditors have over your credit score and that debt is bought by others at a fraction and renew the 7 year term to collect.

  • This is similar to an incident I went through while working at a job in central Texas. I was working for a company chroming chairs for schools and started probation for a previous arrest. My probation officer told me that I needed to tell my employer that I was on probation on the off chance she had to check on me at work. I reported as instructed. Bear in mind, I was hired BEFORE the probation started, and my lawyer said not to mention it to employers because it was still being processed and didn't show up for anyone who wasn't government, military, or police. I was told to not come into work that evening, then the next day, I was fired for lying on my application. They had a form listing previous addresses that was part of their application process. They said it was optional, but if you didn't fill it out, you didn't get hired. They claimed that I lied about my residence on that form. I didn't. I lived in one county, worked in another, and was arrested at work. I had never had an address in the county I was arrested in. I told them as much. They said it didn't matter because I lied on my application. I even gave the example of one of the managers who lived the next county over, asking if he was arrested at work, would you expect him to list his work address as a home address? They said it was completely different. It was all a load of bullshit. Thankfully, I was able to get another job within a week and worked that job until I was fired for being sick on the 4th of July, but that's another story.

  • Still nothing I can do about it

  • The same thing happened to me over and over for years till I realize what was going on

  • Fast food jobs don't check credit scores ....

  • im quite amazed that there arent studies on whether people with more debt are worse at certain jobs? it doesnt seem like it should be such a drastic leap between the two

  • I am at 820 so I care not!

  • Looking back now 2019 with revelation of China's social credit system that punish or reward someone behavior, this credit system is not better at all, it has the same "stinking" feeling about it... One big different is this mostly run by private companies... is that better or not, who know but it sure put unnecessary power on their control, power over people lives and that doesn't sound right....

  • I typed equifacks.com into my browser address bar just now (April 11, 2019) and the website for the "company" is still up and running (home page, anyway). The best part are the extras about what they do, and I quote: "We also blind small animals with cosmetics. We do not sell cosmetics. We just blind animals." PERFECT.

  • 0:50 well... OF COURSE that 4th C was actually just implied to be part of the 1st C back then. back then, being a darker color meant your character was already shot in the eyes of the system.

  • The credit agencies actually put my Dad's delinquent mortgage from 1989 in my credit report, we do have same names but different social security numbers. I was born in 1982. Kids I guess this means you don't have to be 18 to get a mortgage. Lol! This took about 6 months to get removed from my credit reports.

  • This is why we should deregulate everything - obviously, commercial companies are the best qualified to police themselves.

  • Blockchain and the IOT should fix this one. Dissolve all these companies. Some one needs to build a Dapp!

  • My country do not have credit rating... there are some records if you are or were in default but not as US

  • Okay while it is funny to poke fun at these obviouse reporting agency errors, but the blame is on the recipients of the reports in not questioning obvious errors. Thankfully now most reports are made available to consumers through their banking relationships. Consumers must monitor and adjust if you see something wrong.

  • That snow white commercial has the same energy as that one rehab commercial. Porn.

  • Credit checks to weed out people with bad credit who necessarily need a job to fix their credit. Well, the ruling class certainly has that one tied up in a neat little bow!

  • If you are 5' and 450 lbs, yes you are dead, so end it.

  • Am so glad i got my loan from Mr Willian few days ago if not for him i wouldn't have been able to pay my fees, friends if you need an urgent, business or personal loan kindly contact him via this Email: willianloanfirm6@gmail.com

  • Did JO just call out NPH as a #m2?

  • Trump supporters are so dumb. Isn’t their a law that allows people to decide what people do if they are harmful to themselves or others? How does any person who owns firearms and support the president prove they are sane?

  • 6:09--BEST JOKE IN WEEKS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

  • Yep. That is reason number 38 of why I left the debate club. People acted like I was erased which isn't true. I just had hidden code and occasionally glitched out.

  • 2019, websites still up

  • That clip sounded so much like fallout

  • If your looking for professional hacks into secured servers such as: governmental departments, companies, banks. Executing jobs such as: change of grades, yahoo passwords,gmail hacks, clearing of criminal background, bank transfers, mobile phone hacks, facebook passwords, instagram passwords, website hacks, clear credit card balances, change ip, rdp, viruses etc. General hacking jobs, hit at Sammygoldcyber@ gmail.com up or you can get through with them via regular text +1(407) 735-6053.

  • Just like in soviet Russia: spying on their own citizens, ranking their own citizens, denying opportunities to their own citizens.

  • Pro Tip: If ever delivering a joke about child predators, avoid selecting a person who is known to be gay and to be raising multiple adopted children as it will confuse the matter even if no malice was intended. The more you know!

  • Being deceased sounds good if you have debt because of the bank smearing lube at your bottom and you know... sodomy you every month. I wish we all had these powers of human stupidity.... O right.

  • Credit report for employment is wrong. Should stick with calling the prior employers and why they left.

  • Now there are four credit unions. There need to be NO credit unions.

  • muriKKKa sounds like such a great country

  • ...and that's one item on an endless list of reasons why I do not participate in the credit system. My money's in a safe underground, I trade exclusively in tax havens, I pay for everything I buy with cash (or I go without it), and I work for myself. Me - 1 Fuckin' Ridiculous System - 0 The first step is living within your means. If you live within your means and strive for independence in every way you can, you will *never* need credit. I'm not wealthy, nor a criminal, but as a result of living within my means I am thoroughly untouchable by banks and credit agencies. I'm not bragging about this - I'm STRONGLY recommending it!!! Achieving this level of freedom is far from easy, but it sure is sweet! While John made some solid points about the shadiness and inefficiency of those companies, he forgot to mention that the #1 reason for credit problems existing in the first place is greed. People want stuff, so they borrow to get it. Don't borrow = problem solved.

  • 16:40 people being effected negatively by false debt reporting is exceedingly rare. It is literally as rare as false rape reports. BELIEVE THE CREDIT REPORTS!

  • I recently brought a gate, someone mentioned you would be an expert in telling me if it was Russian? I'd hate to say if I had a Russian gate if I did not, it would make people think I was a liar. More importantly it would affect the resale value.

  • The fact that corporate America raped and plundered (No, that's not hyperbole) most of its middle-class pre 2008 GFC and now a lot of employers require a credit check is fucking despicable. I love you America but your country is fucked up.

  • The best show ever!

  • Ethicalsofttouch paid my card and upgrade my score you can text via Telegram or WhatsApp +14795518322

  • Most people live beyond their means. I don't. I receive disability, and probably have more my bank account, from saving, than most people do. Because most people, don't even have $1,000 in their bank account. It's disgusting that people in the States were talking about not having food or paying rent after missing ONE CHECK!!! Save people. Stop living beyond your means. You don't need a brand new car to get to work! You don't NEED brand new leather furniture! There is beautiful second hand furniture that looks new. By the car you can afford, not the car you want. And find out what the TOTAL cost of something is (with interest) BEFORE you agree to payments. Usually, you'll be paying at least double what the item is worth. It's like the whole world of adults has become a bunch of little kids that have no responsibility. Grow up!

    • Julie W. Dear Idiot, did you actually watch this episode? Go troll somewhere else.

  • thats my name! haha

  • Bravo! I had an ongoing problem with Equifax for almost a year. The company employes were passive aggressive with me, saying they would get rid of a double charge on my credit card...I would call every month the charge would show up on my bill as being ongoing...I finally called my credit union through which I had the card , gave the credit union all my written records and they were able to get Equifax to do their job. Equifax etc. are lousy...

  • It does kinda make sense for jobs to check your credit if you're going to be handling their money because if you can't manage your own money to pay your bills then how can they trust you to manage their money.

  • How did he not catch that Judy Thomas looks like Judith Light?

  • Serious question; When I changed cell phone plans the customer sales rep asked me to authorize a credit check. Part of his disclosure to me was that the credit check they were about to run could adversely effect my credit score. I've also heard that checking or requesting your credit report too frequently can adversely effect your score as well. Does anyone know why this is?

    • It's because almost everything adversely affects your credit score. Any time a credit check is run your score goes down by a few points. Same thing if you close an account or cancel a credit card (doesn't matter if it's paid off). The system is just rigged that way.

  • who you callin' a fairy with a name like jizz?

  • I love how you could buy this show but nope it’s free to watch

  • According to my credit report I rented my 1st apartment at 9yrs old and lived in 3 different states at the same time. Living Large right? Except, I have an eviction at 10yrs old and still owe on my Yukon from when they repo'ed it at 12yrs old

    • +Tamala Rovaris and this is the "better living" we are striving for. Then the silent judgement when you finally have to ask for financial help. Or worse yet; the not silent judgment. However proving that you are alive, you do exist and that your children have to eat doesn't change your credit report or the errors they created.

    • Greatest Ever! I got a seasonal job and they normally give every employee a credit card 💳. I couldn’t get one saying I had bought a fur coat 🧥 and I was three years old at the time of the transaction! I have also been declared deceased in California rather than changing the record to show that I moved to California! It took over seven months to fix it and during this time I didn’t get any of my child support! This meant a loss to my income for over seven months and $600 a month! Then my credit rating took a hit because I couldn’t pay all of my bills!

  • John Oliver, look at this. www.creditkarma.com/profile/user/info/name/equiFACKs

  • Can someone explain what he meant when he said: "The only three digits they need to see are the ones on that person's two hands"

  • 311 !!!

  • did somebody say "goat semen"? XD

  • 2019 and still no effect. At least you tried.

  • Hilarious. Use a VPN to check the websites mentioned if you're not in the USA. Thankfully in Europe everyone starts with a good credit. They are then free to ruin it of course.

  • Only public institutions (i.e. police, tribunals, courts etc) should be allowed to collect data on individuals and only according to the law. You want to check my criminal background? You go to the local court with my authorization and you ask them; you do not ask a private company, whose only scope is to increase revenues as any other company out there, to check my personal data.

  • What?? No mention of the credit card companies owning these credit report companies??

  • And this is why I hate credit . Yeah you need it for cars houses etc , but throw that cash in front of them and watch them forget about the BS so called credit report you got from a BS company who let's themselves get hacked and not give a shit about your information getting take. ...😐 looking at you Equafact8😐😐😐 looking very hard . And as for jobs well ... fk it throw some cash in front as well . Judging based on that bs yet you killed that interview . Fk you ... damn fools .

  • I think our credit score is the proverbial mark of the beast.

  • background check company reported back to my prospective employer that the school I attended didn't exist, and they rejected me. I spent 45 seconds on Google and found the school had changed its name.... I had the privilege of telling the employer that I couldn't work for such a sloppy and incompetent company.

  • I am dying (laughing): www.equifacks.com/ www.experianne.com/ www.tramsonion.com/

  • I was recently a target of ID theft and it was very difficult (three weeks of a phone in my ear) then even more a few weeks later. My ISP started the ball rolling by letting my phone number be ported without notifying me. Then the account was closed without notifying me until I got the box to ship the equipment back. Once the thief had closed my account there was nothing the ISP could do except start me over for a much higher cost. I would even receive three bills at once, all with a different amount owed. None of which proved accurate. Now I have to wait until my next bill (Jan to April confusion) to see if it's stable. The new contract has several "balloon bombs". Services I receive free for one year then I'll be charged for things I don't want and don't need. They have listings which don't mean what they say such as DVR box. "All boxes are DVR boxes" so trading out doesn't save a bit. Where is government regulation when we need it?

  • Where do you get those checkered shirts from ...I like them :)

  • 11:53 “Crunch the numbers”

  • I only give my SS# to my accountant. Legally it’s supposed to be ONLY for tax purposes. When companies say that they ‘need’ it, I just tell them that you want it, but don’t ‘need’ it so NO.

  • GIS screwed me over last year. They're the company that does the background checks for Walgreens Distributions here in Texas. GIS violated state and federal laws by going beyond the 7-year limit set by those laws, for any employee making less than 75K a year and releasing that information to Walgreens. Technically Walgreens did nothing wrong, and according to the contract GIS signs with their client's, GIS is not responsible for any decision a company makes using the reports they provide. So while Texas and Federal Laws were violated in the making of a report that caused me to miss out on a job, nobody is ever going to be held responsible for it. Not that I care much now. I'm working for a better company, making more money, so it was a blessing in disguise. But the fact that they brought up crap I did when I was 18-20 years old when I'm 43 is beyond repugnant and is downright immoral. Funny thing about it all. While I'd passed the background checks to work with and around children at the Salvation Army's Camp Hobizelle, I failed a background check to work with and around freight with Walgreens!! Which ironically is exactly what I'm doing now for a Target RDC. smdh lol

    • I should add that GIS wasn't the only company to do this to me. Even the company that does the background checks for Target did the same thing in going 23-25 years back. The difference was that I explained what GIS & Walgreens did to the HR personnel looking into my application and I guess they chose not to use it against me.

  • It's too bad these sites are offline now.

  • we all are slaves

  • Why does America even have credit reports? No one else does.

  • Mmmmm, orca steaks 😨

  • USA is Fucked Up.

  • The credit bureaus don't care even when faced with proof. I had to get a business on the phone and verify to them over the phone and by certified letter that I did not work there. I am pretty sure they only hire people who have had lobotomies.

    • FTC like many other federal agencies is under-funded, it is a great way for your representatives to pat them on the back for providing oversight and then NOT really providing oversight because there is no fund to pay for investigations

  • I worked for experian , total croocks should be shut down !!!!!!!!!!!!

  • I had sterling credit..but because i haven't had to borrow my credit score has nose-dived.

  • Having money gets you good credit. Not having money gets you poor credit. It's not rocket science.

  • Indubitable. 95% right.

  • Investigate that 311 shout-out

  • “This is a really important number! This score effects everything you do! No one bothers to check up on this! It’s someone’s else’s fault!!!

  • (Sorry bout the english,not my mother tongue)The corcern doest lie only on the fact that a person who needs a job might be past on 'cause they have a bad credit report...Im even more concerned, most of the credit reports relay in medical expenses...meaning... an employer might think "that person is or was sick...or might be sick more frequently, so Im not gonna hire that person"

  • Update video with Ultra FICO and Experian Boost?

  • Hahahaha

  • FICO will be our social status standing. Without a great one, people will be shut out. Nothing was done to Experian in 2016.

  • He is quite clever.

  • All 3 sites still up in 2019, lol.

  • The US is a bad business...they should close down the country and open a new one with different people...it wouldn't be any worse...

  • The American credit system is a fraud, and you will find that out when your credit rating goes well above 800. It makes no difference whatsoever. I get the same crappy interest rates as someone with a 400 credit rating. I was recently denied a loan from a “credit union” that I’ve been doing business with for 35 years, and a bank that I’ve been doing business with for the same length wanted a very high rate. It’s just a giant gerbil wheel!

  • I don't think we have credit reports in Europe... I might be wrong, but credit reports seem crazy.

  • After watching these kind of shows for years now.... Is there ANY aspect left of the US of Murca that isnt fucked up and broken ?

  • Wow 2019 Equifacks.com Experianne.com Tramsonion.com All are still up. John Oliver is a legend.

  • Hey I know some really rich guy who committed all sorts of fraud! I think he was on TV last week. I don't know because I don't own a TV.