{"id":11460,"date":"2017-09-12T12:09:20","date_gmt":"2017-09-12T16:09:20","guid":{"rendered":"https:\/\/www.duck9.com\/?p=11460"},"modified":"2017-09-12T17:29:51","modified_gmt":"2017-09-12T21:29:51","slug":"credit-score-social-security-numbers-and-143mm-lost","status":"publish","type":"post","link":"https:\/\/www.duck9.com\/blog\/credit-score-social-security-numbers-and-143mm-lost\/","title":{"rendered":"Credit Score, Social Security Numbers and 143mm Lost"},"content":{"rendered":"
\n
By Larry Chiang<\/div>\n
<\/div>\n
It’s your Uncle #LarryChiang, here.<\/div>\n
<\/div>\n
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…<\/div>\n
<\/div>\n
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. <\/div>\n
<\/div>\n
Experian,<\/div>\n
TransUnion,<\/div>\n
Equifax. <\/div>\n
<\/div>\n
I call the oligopoly, #ExpTransFax<\/a>. <\/font><\/div>\n

\n<\/font><\/div>\n
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 <\/font>#ExpTransFax<\/a> using paper. <\/font><\/div>\n

\n<\/font><\/div>\n
More context and backdrop in case your jaw is on the floor right now…<\/font><\/div>\n
<\/div>\n\n\n\n\n
<\/span><\/td>\nRobert Hof (@robhof<\/a>)<\/b><\/td>\n<\/tr>\n
\n
9\/7\/17, 9:14 PM<\/font><\/a><\/div>\n
143M consumer records stolen in massive Equifax hack: Here\u2019s what it means siliconangle.com\/blog\/2017\/09\/0\u2026<\/a> via @SiliconANGLE<\/a> #Equifax<\/a><\/span><\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n


\n<\/span><\/p>\n\n\n\n\n
<\/span><\/td>\nABC News (@ABC<\/a>)<\/b><\/td>\n<\/tr>\n
\n
9\/7\/17, 3:11 PM<\/font><\/a><\/div>\n
Credit monitoring company Equifax discloses security breach potentially impacting “143 million U.S. consumers.” abcn.ws\/2eJU1gN<\/a> pic.twitter.com\/1PgAKDD9hv<\/a><\/span><\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n


\nPlot spoiler 
\n<\/span><\/p>\n\n\n\n\n
<\/span><\/td>\nLarry Chiang (@LarryChiang<\/a>)<\/b><\/td>\n<\/tr>\n
\n
9\/12\/17, 8:27 AM<\/font><\/a><\/div>\n
If you’re 17 1\/2 yo to 19y.o., you should be running towards giving those #ExpTransFax<\/a> bastards your social security # via paper submission twitter.com\/robhof\/status\/\u2026<\/a><\/span><\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n


\nGoal: associate 24 on-time payments as a 17 1\/2 yo to 19y.o. directly correlated to your social security number. <\/span><\/p>\n

<\/div>\n
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. <\/span><\/div>\n
\n
\n\n\n\n\n
<\/span><\/td>\nNaval Ravikant (@naval<\/a>)<\/b><\/td>\n<\/tr>\n
\n
9\/7\/17, 6:13 PM<\/font><\/a><\/div>\n
The offline identity infrastructure, reliant on magic words and numbers freely handed out to strangers, is a dinosaur. twitter.com\/abc\/status\/905\u2026<\/a><\/span><\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n


\nNaval 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<\/b><\/i>. <\/span><\/p>\n\n\n\n\n
<\/span><\/td>\nJustin Paterno (@zerobeta<\/a>)<\/b><\/td>\n<\/tr>\n
\n
9\/7\/17, 3:29 PM<\/font><\/a><\/div>\n
\n

Equifax: you missed a cc payment 3 yrs ago. How irresponsible. Good luck buying a home<\/span><\/p>\n

Also, Equifax: Your SSN’s were hacked. Shit happens<\/p>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n


\n\"image1.JPG\"
\nWhat 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 <\/span>#ExpTransFax<\/a> is in possession of your social security number [remember <\/font>Experian, <\/span>TransUnion, <\/span>Equifax is <\/span>#ExpTransFax<\/font><\/a>]. <\/span>#ExpTransFax<\/a> collects whether you paid Bank of America visa on-time. <\/font>#ExpTransFax<\/a> does this every month. <\/font><\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

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 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,44],"tags":[],"class_list":["post-11460","post","type-post","status-publish","format-standard","hentry","category-credit-secrets","category-stanford-student-athlete-tips"],"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts\/11460","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/comments?post=11460"}],"version-history":[{"count":0,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts\/11460\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/media?parent=11460"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/categories?post=11460"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/tags?post=11460"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}