the edge of plastic


I am the co-author of a new self-help book entitled, THE PLASTIC EFFECT: How Urban Legends Influence the Use and Misuse of Credit Cards.  The book is published by Coconut Avenue, Inc.

My co-author is a Polly A. Bauer, the former CEO of the credit card division of the Home Shopping Network (HSN).

The book is being featured in a series of articles in the Arizona Daily Independent newspaper.

What is the edge of your credit knowledge?

Do you know what is on your credit report?  Are there any errors?

Credit information is routinely reported to three credit reporting bureaus, EquifaxExperian and TransUnion.

If you live in the United States, U.S. Federal law allows every person in the US to obtain one copy of their credit report from each of the three credit reporting bureaus, Equifax, Experian and TransUnion, each year for free.  More information about obtaining free credit reports can be obtained for free on-line.

If you request one credit report from one of the three credit reporting bureaus in each four month period each year,  you can monitor all your credit reports for free over the whole year.

Since the three credit bureaus enter millions and millions of credit entries, mistakes can be made.

The Federal Trade Commission (FTC) reported in February 2013 that that five percent of consumers had errors on one of their three major credit reports.

If you notice any incorrect or invalid entries on your credit reports, you have to take responsibility to correct them immediately.

Errors on your credit reports can require you to pay more to borrow money, obtain additional credit, obtain a mortgage, auto loan or insurance.  Such errors may also prevent you from obtaining a new job or even renting a new apartment.

The FTC has a free publication entitled FTC Facts for Consumer – How to Dispute Credit Report Errors, available online to help you correct any errors you spot on your credit reports.  There are additional on-line resources available here.

If you are interested in changing the edge of your credit card knowledge, my book treats 25 different urban legends associated with credit cards in depth.

Out There on the Edge of Everything…

Stephen Lesavich, PhD