Entrust America Brings Fairness To An Unfair Credit Scoring System

Cincinnati OH – While Americans generally believe that paying cash and avoiding debt is the key to personal financial success, many are surprised to discover that this strategy is not as sound as it appears.

A Cincinnati-based company is launching a grass roots campaign to help Americans build a stronger credit profile, while at the same time avoiding unnecessary consumer debt.

Entrust America will begin marketing a system enabling consumers to build a positive credit profile without relying on traditional credit services. Entrust allows consumers to get credit for on-time rent and utilities payments and the company even has a way to enhance one’s credit score through use of a debit card.

Entrust America’s CEO, Shane Maguire states that, “American consumers should have the right to build credit without debt, even though the generally accepted credit scoring systems make that very difficult, if not impossible”.

According to industry sources, as many as 70 million Americans have personal credit data which is considered by lenders to constitute a ‘thin or no file’. With an adult population in the 150 million range, that means that close to half of all adults may have difficulty qualifying for a car loan or a mortgage or if they do, they will pay higher rates.

Based on America’s major credit scoring systems, one must regularly use traditional credit services in order to build a credit history. However, an individual who pays recurring monthly payments by cash, check or debit card leaves behind no credit history. No credit history is largely judged as poorly as a bad credit history by most American lenders and financial institutions.

Ken Stoll, Entrust America’s President said, “just last week I heard Dave Ramsey (renowned financial radio host) on the CBS Early Show refer to one’s credit score as the ‘I Love Debt Score’. While humorous, it is an astute observation. This lends credence to our contention that the existing credit scoring and reporting systems simply do not work they way they should”.

The Fair and Accurate Credit Transactions Act of 2003 mandates that “lenders make decisions on loans based on full and fair credit histories, and not on discriminatory stereotypes”. Entrust America supports the spirit of this legislation.

Over the upcoming months, the company will roll out a suite of products and services which will empower American consumers to build credit without taking on debt. For more information, visit www.entrustamerica.com .

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