A client needed a reporting summary and I recommended that he check the ads here and he picked Credit Adapter for the 7 day “FREE” $1 trial.
The $30/month subscription is a giant RIP-OFF.
I recommend this report ONLY for the $1 trial with the immediate cancellation.
Who is Credit Adapter?
The FAQ discloses that they are Adaptive Marketing.
Adaptive Marketing LLC is, as the name suggests, a company specializing in marketing. They sell just about any worthless service you can imagine:
They will sell your info, spam you with offers for useless services and memberships and just like Trans Union’s TrueCredit, they try very hard to get you to sign up for all kinds of crappy credit offers. If you read the fine print, you won’t fall for their deceptive ads. Since few people have the time to read, I’m sure they’re a very profitable outfit.
It is difficult to get the tri-merged credit summary.
After you sign up, you get your user ID. You then have to log in with your ZIP code and they assault you with deceptive credit offers.
Click on “No thank you” until you see Reports in the top menu and then you have to sign up AGAIN to get your tri-merged credit summary:
The INCOMPLETE tri-merged “credit report” is provided by TrueCredit (Trans Union owned.)
Some of the MOST important data such as the Equifax Date of Last Activity, the Experian Date of Status and the Trans Union Date Closed are NOT provided. Also missing are dispute notations, scheduled deletion dates, most credit inquiries and lots of other important data.
Of course that’s a feature of all CONSUMER tri-merged (3-in 1, etc.) “reports”. They should be called credit SUMMARIES as they are NOT credit reports.
MORE Credit Adapter LIES – NO unlimited reports
From the signup page:
All 3 FREE Credit Scores — unlimited online access to all 3 of your Credit Scores — one from each credit bureau (Trans Union, Equifax and Experian). [emphasis added]
From the FAQ:
… Through unlimited access to your 3-in-1 Credit Report and Score, which merges your credit information from all three credit bureaus into one easy-to-read report, you can quickly and easily check to ensure that your private information is accurate and up-to-date. … [emphasis added]
They fail to mention that you have unlimited access to ONE OLD credit report, as disclosed AFTER you sign up (click on the screen shot above) . So don’t expect to get a NEW report unless you’re willing to pay mega bucks or WAIT until you’re eligible for your ONCE A MONTH free report.
The worthless Trans Union “FAKO” credit scores.
The credit scores provided are NOT used by lenders.
Trans Union designed these credit scores to DECEIVE consumers.
These credit scores have nothing to do with the FICO scores, used by MOST lenders and required for most mortgages.
Trans Union also provides DIFFERENT reasons for the low scores than myFICO. They attempt to have consumers ignore problems they could address and to take actions that will LOWER their credit scores.
Most important: They do NOT include disputed accounts:
From the “Additional Information” at the bottom of the page with the scores:
… Also, disputed items are not incorporated in the assessment of your credit score. …
HOWEVER, the FICO scores used by CREDITORS include disputed collections.
Credit bureaus stop at nothing to keep consumers ignorant — the lower the “real” FICO scores, the more profitable consumers are for the credit bureaus and their clients, the bankers and collectors.
Consumers with low scores apply for credit more often because they are turned down (credit report sales to creditors) and those consumers are much more likely to purchase new reports and to pay for credit monitoring. Additionally, low scorers are targeted by subprime lenders who also purchase “leads” from credit bureaus.
It never ceases to amaze me how the credit bureaus excel at deception and misrepresentation and the regulators CONDONE this fraud.
So what is this $1 Credit Adapter report good for?
The Credit Adapter tri-merged report is NOT suitable to improve your credit scores.
You need to review the myFICO reports, score factors and the COMPLETE reports provided by the credit bureaus if you’re serious about your credit.
This tri-merged “report” provides a SUMMARY of your accounts.
I prefer tri-merged summaries for clients who are NOT interested in improving their FICO scores, but need to dispute or settle multiple collections and only need a summary of the accounts. It takes a lot more time to review 3 complete reports (of course the account ORDER is different for each bureau) than to review the summary.
My client has been dealing with a Paragon collection. We needed to see whether they report and to which bureaus. They are only reporting to Trans Union and he should obtain the Trans Union COMPLETE report after Paragon has received his dispute.
We also checked to see whether Citibank still owns his charged off accounts. Since they report the balances and there is no notice of transfer or sale, it is likely that Citi still owns the accounts. The only way to find out for sure is to contact Citi, as they sometimes “forget” to update with the credit bureaus.
So if you need a cheap credit summary, this is one of many tri-merged reports to use as long as you CANCEL before they charge you.
The ID Theft Resolution SCAM
Credit Adapter does not specify what exactly this service is, but only very few people need assistance with resolving ID theft. NONE of these services can prevent ID theft and if they add a fraud alert to your credit report (which you can do yourself and free of charge), you might be DECLINED for credit when you apply.
Anyone with half a brain ought to be able to complete the FTC fraud affidavit and mail it to creditors. NO service can do this FOR you. You may also have to report the ID theft to the police. It’s not a big deal, in some areas they’ll even come to your home or office to write up the report. Again, it’s for YOU to do, not some ID theft service.
The FTC free instructions and the link to the affidavit:
You have NO liability for charges incurred due to ID theft.
Canceling the service
Do NOT forget to cancel within 7 days or your account will be charged $30.
It’s best to cancel right after you SAVE the report, best in web archive (.mht) format.
You can also cancel by telephone:
… you can call Credit Adapter toll-free at 1-800-492-3042 …
However, I STRONGLY recommend canceling online.
If you call, you are likely to incur future charges and/or they’ll try hard to get you to keep this WORTHLESS service. Nobody needs to pay for these incomplete reports, FAKE credit scores and identity theft protection.
Cancel by email — it’s quick, easy and you get PROOF of cancellation. Of course save the cancellation email.
And you might want to opt out of future marketing:
How do I opt out of receiving future marketing e-mails?
Sign on using your membership ID number, visit our Contact Us page, select “Unsubscribe to future marketing” from the drop-down menu, and email us your request. Please be sure to include your name and membership ID number as well as the email address you would like us to remove from our distribution list.
And next time you need a cheap / free credit summary, simply order from a different company – check the ads here for offers.