This weekend’s Bottom Line column:
When you sign up for a credit card, you’re making the credit-card company a life partner. It knows where you shop, when, what you buy, whether you pay your debts on time and if you’re a sucker for a balance-transfer offer that leads to high interest rates.
It knows a lot more than the credit score any consumer can get, free, each year from Equifax, Experian and TransUnion (visit http://www.annualcreditreport.com or call 1-877-322-8228). Credit-card companies, and the banks that own them, compile dozens of secret scores unavailable to consumers.
Adrian Nazari, CEO of CreditSesame.com, says there are 49 known “custom” credit scores.