Here is a sample of the comments on a story Bill Hudson did for Channel 4 regarding a paid credit score analyzing service:
This is news? Seems more like a free ad for this service
Agreed with annamartina – this is what I call “rip-off journalism.”
This is basically an ad for a credit repair service- A real story would explain the mechanics of the credit score- and explain the only “quick fix” is to lower the debt to credit ratio, and not be bait for the “service”. The other quick fix- the “authorized user” loophole has been closed. Clearly this is an ad.
As a loan officer I can tell you this is simply an ad. You should never have to pay anyone to improve your credit score. Simply make your payments on time, never advance up to your limit, and try to keep the debt you carry on those cards no more than 50% of your limit. Managing your finances is in no way rocket science, it’s basic common sense.
What if Bill Hudson had asked the mortgage broker what are the three most common things people could do to improve their credit score? You know, provide some value to viewers rather than turning the newscast into an infomercial. Is there a reason he didn’t? Would that have basically given away everything that the people selling this services are attempting to charge people to tell them?
I hope WCCO was paid well for this ad.