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In The Media

Credit Score, Social Security Numbers and 143mm Lost

by Larry Chiang on September 12, 2017

By Larry Chiang
It’s your Uncle #LarryChiang, here.
I have got a niche opinion that goes a little bit against common sense, but if you want a FICO score over 750 ASAP, you’re going to have to go down a rabbit hole…
But first some context and a plot spoiler. The context is that you live in America where a private company has oligopolized credit and money rules. The definition of oligopoly is consumers have extremely limited choice. 
I call the oligopoly, #ExpTransFax

Plot spoiler: you are faced with some pretty horrible choices and your social security number absolutely will be compromised. Again, we Americans live in an oligopoly. We must interact with #ExpTransFax using paper. 

More context and backdrop in case your jaw is on the floor right now…
Robert Hof (@robhof)
143M consumer records stolen in massive Equifax hack: Here’s what it means… via @SiliconANGLE #Equifax

ABC News (@ABC)
Credit monitoring company Equifax discloses security breach potentially impacting “143 million U.S. consumers.”

Plot spoiler 

Larry Chiang (@LarryChiang)
If you’re 17 1/2 yo to 19y.o., you should be running towards giving those #ExpTransFax bastards your social security # via paper submission…

Goal: associate 24 on-time payments as a 17 1/2 yo to 19y.o. directly correlated to your social security number. 

Goal: Get a FICO of 750++ by getting twenty four 1s [1’s are on-time payments]. 24 months is 2 years of charging $10-25/month and paying it ontime. 
Naval Ravikant (@naval)
The offline identity infrastructure, reliant on magic words and numbers freely handed out to strangers, is a dinosaur.…

Naval Ravikant is correct. But as per American credit laws, bending over for Equifax is not a choice, it’s a required medicine. Pick your poison

Justin Paterno (@zerobeta)

Equifax: you missed a cc payment 3 yrs ago. How irresponsible. Good luck buying a home

Also, Equifax: Your SSN’s were hacked. Shit happens

What I mean by pick-your-poison is this: If you ever want to own a home, your FICO credit score must be high. Your credit score cannot be high unless 
#ExpTransFax is in possession of your social security number [remember Experian, TransUnion, Equifax is #ExpTransFax]. #ExpTransFax collects whether you paid Bank of America visa on-time. #ExpTransFax does this every month. 

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