Anybody done this?

[tigerman]

getexcellentcredit.com

This is a website I came across the other day. I'm not exactly sure how it works because everytime I filled out a credit app you need your ss #. It's been about 5 years since I applied for a mortgage loan but I do remember them asking for copies of my ss card. Just wondering if anybody has done this and knows anything about it, it even has good reviews on the spam alert websites.

[HHM]

Sounds a little too good to be true.

If I had to guess, you set up a DBA and then fill out an IRS Form SS-4 and set up an EIN number. Then you apply for credit under that EIN number. (the DBA may not even be necessary, I think you can just get an EIN by filing out an SS-4).

This is just a variation on some of the other schemes that were used early in the decade...(set up an LLC, get an EIN, apply for credit cards under LLC, and then transfer your personal CC balance to the biz cards -- that was to clean up your personal credit file).

I particularly like this little part of the "pitch", you are not required to supply your SSN except to the government and your employer...technically true, but if you "fail" to provide your SSN to a lender, they don't have to lend to you.

The cautions would be (1) this is a separate file and NOT a consumer file (Dun and Bradstreet would be the reporting agency), (2) you probably could get credit cards and car loans, but I think in the current climate, a mortgage is a stretch, (3) since it is a business file, the lack of an actual business operation could constitute fraud.

However, I do applaud the website, the wording is "very specific" so as not to be technically false, but does omit information and, at least, in my view, is misleading. Notice the recurring use of the phrase, "professionals" like doctors, attorneys and accounts. What do they have in common, they often operate as sole proprietorship but get a separate EIN under which to operate their "business." The claim, that "this technique has been used by these professionals" is, in fact true, they fail to explain why.

I am sure they will make good money with that website, people are so desperate and easily give into credit score hysteria.

Bottom line, waste of money.

[AngelinaCatHub]

In this day and time, I would not put my SS on the Internet for ANY reason. Remember, when doing any business, check the page that you have to give info for HTTPS not just HTTP. Also in the lower right of most browsers, a lock symbol that indicates a secured site. Non-the-less, don't trust anything you are not sure of. 'Hub

[HHM]

In this day and time, I would not put my SS on the Internet for ANY reason. Remember, when doing any business, check the page that you have to give info for HTTPS not just HTTP. Also in the lower right of most browsers, a lock symbol that indicates a secured site. Non-the-less, don't trust anything you are not sure of. 'Hub

I think you sort of missed the point on this...the website is not asking for the SSN, it is trying to sell you on the idea that you can have a new, clean, credit file.

[tigerman]

I think its too good to be true, I was discharged in Jan of 2011 and I've been able to get a car loan and a credit card. The wish there was a way to make my mortgage dissappear on my credit report so I could get another house. No telling when my old house will get sold, I don't want to rent but I guess I'll have to. Right now I'm just trying to dispute every negative thing on my credit report to see if in time it will get deleted, I know its a long shot but hey what do I got to lose.