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TrueCredit / Fraud and scam!

1 Fullerton, CA, United States Review updated:
Contact information:
Phone: 800-916-8800

I am trying to refi. So I thought the $15.95/month deal from truecredit.com (aka transunion) would be great, it allows me nearly unlimited access to my credit reports from all three agencies and my scores from all three agencies. But the scores are not real FICO scores. They are some normalized estimate based on an unknown secret recipe of truecredit. FICO scores are also secret recipes but each of the 3 reporting agencies has a repeatable way of calculating its FICO product, for instance Equifax can provide a BEACON 5 FICO score, Experian can provide a Fair Isaac V2, and TransUnion can provide a FICO Classic 2004.

Which of these scores do you get when you order your 'credit score' from truecredit.com? None of them. So the scores that you bought from TransUnion (truecredit) do not even reflect the same scores that TransUnion will report to possible lenders.

To illustrate my experience, on the exact same day, a lender queried TransUnion for my 3 scores, and there was a 28 point difference between the lowest score that truecredit reported to me and the lowest score that TransUnion reported to the querying lender. Additionally, none of the three scores matched. 28 points is a huge difference in the credit score market.

They do have a disclaimer: 'the credit score provided here is not a so-called FICO score. The credit scores of TransUnion may not be identical in every respect to any consumer credit scores produced by any other company.' But then what is 'the credit score' that they provide? It is a guess and not too accurate at that, and even the TransUnion score was not identical to the TransUnion score reported to the possible lender (on the same exact day). So truecredit is misleading and possibly downright lying to their customers with these numbers.

Va
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Comments

  • Jp
      26th of Mar, 2008
    +1 Votes

    This complaint explained for me a very confusing report I received from true credit. My scores were 736, 726, and 676. I think the 676 is completely wrong, and I was about to contact the bureau to dispute it. But now I think it was just a mistake by true credit.

    For the higher two scores, true credit told me those agencies reported a long and positive history for each of my credit accounts. For the lower score, true credit reported "unknown" status for almost every credit account.

  • K
      9th of Jun, 2008
    +1 Votes

    Not only the above complaints, but TrueCredit makes it nearly impossible to opt out after the period. You can't do it online, you have to call in. When I called in, the very rude Indian lady who answered told me I would have to fax a drivers license with a request to opt out. She then had the audacity to call me 'Ms. XXX' when I had already told her I was 'Mr. XXX.'

    AVOID AT ALL COSTS. Find another online credit report!!

  • Ro
      31st of Jan, 2009
    +1 Votes

    I recently cancelled my truecredit membership. I got a alert from them that a new account had appeared on my equifax report, turns out it was an old alert, however when I recieved it I decided to go to equifax directly to check it out, it was an account that was old and paid off and was still correct on my report( on all websites). So I also decided to check my score to find out if it was being reported to me correctly. My score was off by 55 points. Thats right 55 points!!! So I decided to check experian my score was off 34 points. 34 points!!! This is no joke. Truecredit will give you a correct credit report but the score is a total scam. Be aware do not rely on truecredit for a accurate score it is a ripoff

  • Ho
      4th of Jul, 2009
    +1 Votes

    they told my score are 757-729-656...??? very confused. For the lower score, true credit reported "unknown" status for almost every credit account. I am going to cancel the membership. It is a waste of money.

  • Po
      17th of Aug, 2009
    +1 Votes

    Good luck trying to cancel. I have been trying for eight months and every month, like clockword, the charge shows up on my statement. Despite 7 phone calls including another 8 today, nothing is resolved. They had my address at one I haven't lived in nine years. They refuse to refund my monthly fee despite trying to cancel since January. I was cut off several times, re-routed and ultimately resolved nothing. I now have phone calls into the President of TransUnion, Bobby Mehta; the VP of Communications and the President of Consumer Relations. Next step are the networks. We'll see if I get a phone call back. Granted it's only $80. but it's the principle. I am a media relations person and if my company treated people like this, I wouldn't blame them for going to the news channels. STAY AWAY FROM TRUE CREDIT AND TRANSUNION UNDER ANY AND ALL CIRCUMSTANCES!!!

  • Je
      17th of Nov, 2009
    +1 Votes

    I too have had problems with this company. I have records of canceling mty membership, but they still bill me. No one will help. Stay away!

  • Ww
      13th of Jan, 2010
    +1 Votes

    I totally agree that Transunion's Truecredit service is a complete scam. In addition to the bogus credit scores, their security practices for their phone support are completely inadequate and they transfer personal information to advertisers!!! The fact that Truecredit has been allowed to operate in this fashion given that Transunion (parent of Truecredit) is entrusted with the safe keeping of the details of my financial information boarders on criminal. I urge anyone with an account to write their congressman / senator (I did) and complain. For those of you who don't already have an account consider the posts on this site as a warning and remember that for every person who posts there are thousands more with similar issues who remain silent.

  • Jd
      19th of Apr, 2010
    +1 Votes

    I just cancelled my truecredit account! SAME THING happened to me... We are in the process of buying a home and when my lender asked me if I knew my Credit Score, I logged into true credit and gave him what it said 679... An hour later he called me back and told me besides being approved my credit score was ALOT better than 679, I was actually at 744. So I called true credit to cancel and the customer service agent had the nerve to tell me I had to update my own scores??? WTF!

  • Ma
      19th of May, 2010
    +1 Votes

    Same experience here...went to refi and was told my credit score was almost 100 points lower than I thought from monitoring on truecredit.com. They use the "Vantage" scale which is not the same as the lender scale. Very misleading...criminal!!! WHAT A SCAM!!!

  • Ir
      5th of Jun, 2010
    +1 Votes

    They are now outsourcing their escalations to Guatamala so good luck in every getting a us rep. The calls will either go to Manila or Guatamala!

  • Lu
      17th of Jun, 2010
    +1 Votes

    Any improvement on Truecredit. Unfortunately I just signed up today. My scores looked credit on there but we are closing on a house next week and I am wondering how accurate they are.

  • Tq
      23rd of Jun, 2010
    +1 Votes

    True Credit is worthless. I used them for over five years and now I think I wasted my money. I had only signed up for the basic plan to prevent identity theft. Every week they emailed me to say whether any new credit accounts had been opened in my name, change or address, or any other activity that might point to identity theft. The plan also included $25, 000 of insurance in case my identity was ever stolen (to pay lawyer fees, etc). Sidenote: the insurance was through AIG (5 years before they imploded). The price was only $40 per year, billed to my credit card quarterly ($10 a pop--even I can do that math in my head). Everything was good and every email came in saying "you're in the clear--no changes or new accounts" Four months ago, I opened a store credit card and I noticed that True Credit, based on their emails, seemed to be unaware of it. I thought, I'd give it another few weeks to see if they'd catch it. They didn't. Forty-five days ago, I bought a car and they haven't noticed that either--I still got "you're in the clear--no changes" emails. I was going to call and see what the problem was but today I got an email saying my plan is being phased out and that they will "compensate" me for the inconvenience by giving me a free three-month trial of Zendough which costs $15 per month ($180 per yr {okay I used a calculator on that one}). I will NOT be signing up for Zendough. I'm starting to doubt that True Credit ever did anything to deserve the few hundred dollars they got from me.

  • In
      8th of Jul, 2010
    +1 Votes

    The service works OK. BE WARNED! When you want to cancel, it will take you hours, and hours of your time, and you will see a very disgusting part of the company. They will squeeze you for every penny, hide their phone number, no way to do it online, no way to do it by email, or fax. You have to find the secret hidden phone number that is only found in your original email confirmation!

  • Hu
      20th of Sep, 2010
    +1 Votes

    The bottom line is the FICO scores True Credit reports to you are fraudulent. I was trying to buy a home and there was a 40 point discrepancy in my real numbers and True Credit's (fake) numbers. They are selling consumers a service to make you feel like you can be on top of your credit and know exactly what is going on at all times but it's just false security.

  • St
      13th of Oct, 2010
    +1 Votes

    IM A MEMBER OF TRUE CREDIT YOU GUYS ARE RIGHT I WENT TO TRY TO GET A CAR ON CREDIT AND MY SCORES ARE NOT THE SAME FROM THE 3 CREDIT REPORTS THEY ARE OFF BY 100 POINTS IM VERY UPSET OF TRUECREDIT IM GOING TO CANCEL THEM STAY ALWAY!!!

  • Ke
      31st of Oct, 2010
    +1 Votes

    I agree that it is a scam and not useful. I recently got an alert on True Credit saying I had a delinquent account and I called the creditor and worked it all out. I did not pull my credit report but I got another alert yesterday saying it showed up 30 days late again so I pulled my 3 credit reports and there is no information about this derogatory account on there!! I'm cancelling tomorrow whether they like it or not!! They got me worked up for nothing!!!

  • J0
      8th of Dec, 2010
    +1 Votes

    I am in the same situation right now. Trying to purchase a house Truecredit show TU 712, EX 663 and EQ 659. When the lender pulled my credit, I was shocked to find out TU is actually 683, Exp 623 and Eq 600. That is way off! I am pissed off right now.

  • An
      22nd of Dec, 2010
    +1 Votes

    Same here as "Stay Alway". Just went to go get a car, TrueCredit showed my scores as being 711, 713, and 735. Car dealer showed scores lower (in one case 100 points lower) than True Credit. "True" Credit. Been a customer of theirs for over 5 years, never did much with my credit just wanted to watch out for fraud. Now the only fraud I have seen, is by True Credit themselves. Canceling this service, and investigating into seeing if what they are doing is legal.

  • Rw
      5th of Jan, 2011
    +1 Votes

    BEWARE -- SCAM ARTIST --- 1/5/2011 9:30 a.m. -- I signed onto True Credit.com. Login went well until I got to a blurred screen fronted with a window asking me to "Click Here To Sign Up" for who knows what and no prices visible. I called the 800 number and spoke with "Noel" (with a a lovely accent) to ask him how to by-pass this screen without signing up for anything because all I wanted was a free credit report. - He put me on hold three times and I began to get suspicious. When I asked him where I was calling, he told me he is not "allowed to discuss that information". I asked if I was calling inside the United States and got the same answer. I then asked him if I was calling OUTside the United States and he said yes, but couldn't way where I was calling. NICE, huh?
    I then asked to speak with a supervisor. I asked him the same question and received the same answer, but this one would not even tell me if I was calling outside the United States.

    The first words out of both their mouths were "Thank you for calling True Credit. What is your social security number?" Thank God I didn't give it to them!! So ... think about it, they are outside the United States, speaking with an accent, they have access to the website where the social secuity numbers of each contact is accessible to them, and when you call to question anything, the first thing they ask you for is your social security number and won't divulge ANY information about the company they work for. BEWARE - BEWARE - BEWARE !!!

  • Do
      21st of Jan, 2011
    +1 Votes

    Resently applied for refi, and lenders scores were lower than truecredit scores, on the same day! Was told by several lenders that truecredit scores are "consumer" scores, and do not accurately reflect your real scores. So basicly we (my wife and I) have been pissing away $30 a month for about (4) years, to recieve bogus info. We were still able to refi, but I am not at all happy about this scam that truecredit is running, and I intend to report them to the BBB, Texas AG office, and local consumer reporters.

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