OK, I admit, I’ve lost control. I am now on a rampage to compile a complete dossier on my personal financial life. After the fun of www.annualcreditreport.com I just couldn’t help linking over to myFico.com last night. It has been so long since learning my FICO score and the mystery was killing me.
We’ve been exposed to identity theft. We’ve been told to review our credit report. We’ve been given the legal right to access our credit report at least once each year. Have you done it? I haven’t! I admit it, it just didn’t seem necessary since we have not had any need for a new loan or credit check. A recent ID theft scare has prompted me to check my credit report, so I decided to share the experience with you. Curiously many people accept their lot in life, they accept the status quo, but why? It comes down to belief. The scientists call it the status quo bias; a persons tendency not to change behavior unless the incentive to change is compelling. They also refer to this as a cognitive bias which can be distilled for our purpose into, drum roll please, habit. We learn to not challenge the status quo. Don’t permit yourself to be locked into this frame of mind. Would you find it odd if a company that allowed your personal information to be stolen would then want you to freely give your Social Security, address, date of birth and other personal details over the internet? Have you stayed at a Radisson Hotel in the past year? If so you may be at risk of ID Theft. When we go to a grocery store, we see the price posted for a box of cereal. The price doesn’t vary from morning to night, it doesn’t change based on the number of boxes sitting on the shelf. About the only thing that will affect this price you pay is if you happen to hold a coupon. This makes sense… but then why are some things priced based on your ability, or willingness to pay? Some companies are using sophisticated technology to manipulate pricing to gain an advantage over you. What can you do about it? | ||
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