Verizon Explains How Telling Credit Agencies About Your Slow Payment Is A Gift
from the so-that's-how-it-works dept
It's no secret that companies will often use doublespeak to say one thing while they're actually doing the exact opposite. However, here's a fun one pointed out by Dave Farber's Interesting People list. Verizon has taken to telling the big three credit bureaus how punctual Verizon customers are in paying their bills. This isn't all that surprising, since being delinquent in bill payments can end up being reflected on credit reports -- though, usually from more traditional credit vehicles, like credit cards, loans or mortgages. In fact, the threat of having delinquent bills being reported to credit agencies is often used by companies to get slow payers to pay up -- which is exactly why Verizon put this plan in place. While they admit that when asked, that's not at all how they spun the story to their customers. Instead, they said that reporting their info to credit agencies is a "free gift" for consumers. Free gift? Yes, apparently Verizon wants people to believe this is a good thing, because it will help its customers build up the credit they need. As for the people who already have decent credit? No one seems to have asked that question. The story also notes that this is the gift that keeps on giving. Verizon is including the subscribers phone numbers in some of the credit reports -- even if the subscriber is paying for an unlisted number.