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What should be automatic
Two reasons it's not automatic

1) It's extremely inefficient for everyone involved. No more applying for credit cards/loans/morgages/etc. with instant approval notification. Imagine going to buy a car and needing to wait multiple days to get the loan approved (apply for the loan, wait for the fraud documents to arrive, fill them out and send them back in then finally find out if you are approved). Or look at stores with instant loans (especially the 0 interest for 6 months variety). If you take away that incentive, it would be prohibitive for many people to purchase expensive items.

2) It would be extremely expensive for all companies providing credit. They could no longer have automated programs handle everything or, if they could, they would need to spend massive amounts of money to overhaul everything to handle this new process. And you know who is going to pay for all of that. I don't want higher interest rates all around just so that the small percentage of people who have identity theft issues don't need to make a phone call on their own (yes, that's all you need to do. Call Experian and tell them and all the others are notified automatically. It only takes 1 call).
Posted by: rhavyn   Posted on: 02/18/05 You are currently: a Guest | Members login | Terms of Use
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ALERT! Rant Ahead You have been warned  Squawkbox | 02/18/05
ALERT!  CAPTAN | 02/18/05
Missing the target  Roger Ramjet | 02/18/05
I did not miss the target  Squawkbox | 02/18/05
What should be automatic  IT Scion | 02/18/05
What should be automatic  rhavyn | 02/18/05
And what credit agency do you work for  jnaffke@... | 02/20/05
I don't work for a credit agency  rhavyn | 02/21/05
Missing the target  rhavyn | 02/18/05
Tough  jnaffke@... | 02/20/05
If you only had an argument  rhavyn | 02/21/05
How often do you move?  Roger Ramjet | 02/21/05
It's not how often you move  rhavyn | 02/21/05
Non-competitive private companies  Roger Ramjet | 02/22/05
They are regulated  rhavyn | 02/22/05
California...  vinnie327 | 02/18/05
I see a class action lawsuit here  Squawkbox | 02/18/05
California - Lawsuit Capital of the Country?  maryjoer | 02/18/05
my general credit is sooooooooo bad etc. etc.  Squawkbox | 02/18/05
CREDIT FREEZE is the way to go .....  redstone | 02/18/05
See my response above  Roger Ramjet | 02/18/05
And what is the  michael-t | 02/18/05
Reread the article michael  BobSmith(NotReally) | 02/18/05
You didn't provide  michael-t | 02/18/05
One guess! LOL  DebianDog | 02/18/05
Here read the applications  Squawkbox | 02/18/05
I understand  michael-t | 02/18/05
One senario Follow me on this  Squawkbox | 02/18/05
Once you become a memebr of CP  Squawkbox | 02/18/05
avarice vs platform security  darkmoonman | 02/19/05
Absurd!  EBathory | 09/01/05
And if you think information ain't the coin of the realm read this about CP  Squawkbox | 02/18/05
The Secret List  darco | 02/19/05
The Secret List  darco | 02/19/05
Proves what I've been screaming for years  Squawkbox | 02/19/05

What do you think?

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