AnnaMaria Andriotis

speaker

201 appearances 3 recordings 1 series first heard Dec 2018 last heard Oct 2019

AnnaMaria Andriotis’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Paying Your Cellphone Bill Can Boost Your Credit Score · 19 Dec 2018 podcast

Because really, for the most part, consumers have not had any control, except if you're just trying to dispute information that's in there, saying it's inaccurate, we need to get it fixed, right?

So this theme of we'd like consumers to get more control kind of plays in to what's going on here.

And on some levels, the industry, the credit reporting industry, is responding to some pressure, really regulatory pressure, as well as some of what the banks want in making changes like this one.

The end goal here is to get more people who can essentially get affordable credit than they currently can right now.

And so big banks have been approaching Experian.

Experian's CEO told me this.

They've been approaching Experian in recent years saying, look, we want to get more data on people who don't have much of a borrowing history to determine whether or not they are good borrowing bets, essentially.

Sure, sure.

And that sort of opens up a whole other conversation.

Right.

Specifically, what I said is that the result from this change and other changes that have occurred as well recently is that it increases the chances that more people will end up with higher credit scores.

And that leads to the question of,

So are those people really as credit worthy as that higher credit score suggests?

Or is it becoming easier to attain a higher credit score?

That's where I see the big debate here.

Now, advocates of changes like the one that Experian is now making say, look, there are people...

who pay these bills, electric, cell phone, et cetera, on time every month and don't get credit for it.

But this data is an example that these people are responsible.

And so if they're responsible paying those payments, they would be responsible taking a loan from a bank.

There is the flip side of it, though, that says paying your electric bill every month does not mean that you are going to be paying your credit card bill every month.

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