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

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  • Published on:  Sunday, April 10, 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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  • Source: https://youtu.be/aRrDsbUdY_k
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  • Marc Anthony

    Marc Anthony

     a minute ago +1

    Your Credit Score is one of the MOST important metrics in your life. It shows a lot more about a person them Oliver is claiming. It shows what kinds of debt, frequency of payments, if you are applying for more debt and where (Best Buy or Hospital is not the same thing. It shows all the addresses you lived at over the last 7 years. It also shows if you are keeping smart debt, or running the highest interest debts. It's very revealing.

  • TheHoustonSkeptic

    TheHoustonSkeptic

     19 hours ago

    I had a problem on my credit report that said I owed money to an apartment company that I had paid off literally five years prior and it almost cost me an apartment when I moved take a new job

  • rock Onmyboi

    rock Onmyboi

     6 days ago +1

    Why didn't she just pay the cable bill? Probably way cheaper.

  • Moe A

    Moe A

     7 days ago

    Land of thievery and home of the gangsters. I think it sums up America

  • Paul Haylor

    Paul Haylor

     7 days ago

    Credit scoring the art of rewarding debt with greater debt is illogical but logistical for banks who wish to commoditize users accounts.

  • Saturnusplanetkraft

    Saturnusplanetkraft

     7 days ago

    We need to google these company names repeatedly to increase search result popularity.
    Equifacks Experianne TramsOnion

  • Daathaan

    Daathaan

     14 days ago

    Credit: Bullshit that companies pull to get you to buy more/banks to get you to take more in loans and pay a shit ton more back when it could have been cheaper to just fucking save and buy whatever you wanted outright.

  • Jeffrey Eick

    Jeffrey Eick

     21 days ago

    Several decades ago Experian ran a Pyramid scheme [they tried to sucker me into it] With that money they formed the Experian credit score company that has manipulated the lenders marked for over 50 years.

  • H C

    H C

     21 days ago

    Two years ago I checked my credit report. It had several loans on it that I did not take out. I believe it was two vehicle loans and one mortgage loan. I paid cash for my car and never had a loan on it or any vehicle and I never owned a home. I called several numbers. It was difficult to find someone to handle that. In fact, I never did reach anyone who could help. Everyone kept sending me to different people or giving me numbers to call. A week or two later I checked it again and my credit report was completely wiped. I had no credit score and no info about any loan or payment activity. I guess it's better in a way than having a hundred thousand in debt but it's just as difficult to get a line of credit when you have no score as opposed to a bad score 🤷🏻‍♀️

  • starless mystery

    starless mystery

     21 days ago

    John you missed the really big issue with these credit reporting agencies. I asked an official at one who gave them the authority to snoop around in everyone’s financial information anyways and turns out, they have none. After evading my question for nearly an hour and threatening to sue them he said I had been removed from their database. 🤯. I of course said “what? You mean I don’t have to be in your system?!!!!!!!” And he said , no. This all started with me filing a claim because of the equifax breach. They waited a month and sent me an email saying I could have a month free of their credit monitoring service. A federal judge last year ordered them to pay their victims all at least 125 dollars which is what I filed for even though they do owe me more because my identity was stolen as a result of that breach. I have all of the police reports and letters from various companies proving this happened. I didn’t want to fill out their complicated form so I just decided to just ask for the 125. They sent me this email saying if I didn’t have a paid credit monitoring service at the time I filed, all they are required to give me is a free month of their service and after that I will pay for it monthly. I not politely told them where to shove their service

  • Mozart

    Mozart

     21 days ago

    Well, I don't have a child and I never had utilities on my name. Surprisingly the city's utility company put a derogatory mark on my name for 275 dollars as an "unpaid child support".
    Weird stuff.

  • Robert Olmstead

    Robert Olmstead

     21 days ago +1

    John Oliver: “No one chooses to get sick.”

    America: Hahahahahaha, sure buddy

  • Melpheos1er

    Melpheos1er

     28 days ago

    I'm glad I dont live in the USA with this crappy system

  • LP

    LP

     28 days ago

    Exactly same in UK, with exception that we have CallCredit instead of TU. Once I noticed my car insurance gone-up for no good reason (and in fucking UK you notice it when your car insurance goes from £1200 to £1900), then I realised there was a credit card debt on my report.


    My credit score never been excellent (which is strange considering I have never had debts and always had stable job from ~16), but it suddenly became to poor. It was for genuine credit card I had with TSB bank. At some point I have decided to cancel the credit card, so I paid it off and closed the account, this was around time TSB and LLoyds bank was spiting and they made some mistake which showed "massive" outstanding balance of £183.19 was still outstanding. Whats is worse they had my old address from 12 years ago. As result I have never received any letter stating that I have debt and they reported the accounts as being in arrears. I have contacted the bank and they fixed the error "fairly quickly" - I think it took like 6 weeks and like 60 hours on the phone, but once they realised it was their mistake they sorted it out and offered me £50 refund. This not exactly helped me considering I have lost £700 on insurance, but at least they admitted the fault and to some extent did something about it.


    NOT THE SAME STORY with credit score agencies, Equifax told me that record was correct from the perspective that such debt was genuinely (even though incorrectly) reported to them. So basically, they would only consider it as error if they would have pulled the report from thin air?! CallCredit told me that I will need to provide proof that it was incorrectly reported by post and Experian didn't even know I had account with TSB.... so I guess that is good?! After quite a bit of argument and threats of legal action CallCredit updated reports when I have sent scanned copy of letter I received from TSB about the updates on my account status. Equifax never agreed to amend the report, but after 6 month and countless threatening e-mails from me the debt magically disappeared from their report.


    What was the most annoying thing (and sort of is to this day) - although my record was correct at the end... my credit score remained poor for no good reason (with exception of Experian where it always remained good) - when I made enquiries I was told they won't share the specifics of how report generated, nor details why it shows as poor. After several more calls eventually they told me that report will "eventually fix itself", basically the wrong declaration of debt made it poor, but removing such report did not automatically restored it to good... it just starts slowly improving if my financial performance remains good!!! Meaning that in meantime I pay increased premiums right, left and centre for not fault of my own. 5 years later my reports are still just borderline good and sometimes drops to average. Over the years I must have lost ~£8000 just simply because of unfavourable interest rates, higher insurance premiums etc. For something totally not related with my Character, Capacity or Capital.


    Based on my experience I conclude Credit report is just a tool to rip you off, helps banks and lenders to justify unreasonably high interest rates and for insurers just charge you more... I don't even understand to this day what credit score has to do with car insurance. In summary, I think financial industry is actually quite keen on having these agencies so that they can extend their profits in most unfair way - the poorer you are the more you pay! Lucky for me, I never been very poor nor relied on credit extensively, but it somewhat restricted the options to say lease the cars or get the loans.

  • Mike, TheAnimated

    Mike, TheAnimated

     1 months ago +2

    Man watching this show makes you realize how much America doesn't work.

  • Jenny Shull

    Jenny Shull

     1 months ago

    “U can’t get a job without having job experience but u can’t get job experience if u can’t get a job.”

    Don’t worry soon being dead won’t be a problem. Because everyone will immortal or dead people will have the same privileges as living people and not because someone stole a dead persons id. Which u can do because your dead relatives social security numbers are online for anyone to find. When u die someone can still steal your id.

    People giving their children unconventional names know what they were doing. Protecting their kids from id theft.

  • Faith Rada

    Faith Rada

     1 months ago +1

    What is NOT to Love about John Oliver??? 💚

  • Yoruichi The Extra Terrestrial

    Yoruichi The Extra Terrestrial

     1 months ago

    I knew credit report companies were pointless, I didn't know they were also dangerous.

  • Mix Sessions

    Mix Sessions

     1 months ago +2

    Our nightclub only hires staff over 750. We have seen a profit increase of 134 percent. That means each person's bonus is up 80 percent as well as tips are up 30 percent up yr over yr 3 yrs in a row. We also do not hire anyone with any crimal record.

  • danyl barbour

    danyl barbour

     1 months ago

    a glitch in the matrices