A new subreddit dedicated to analyzing credit reports for the purpose of predicting what a consumer’s credit score will be in the future has a problem with the data they’re basing their predictions on.
The original subreddit, kafkaconsumer, was created to analyze credit reports from the United States Department of Labor, the Federal Reserve, and various other federal agencies, in order to help consumers plan for the future.
It also claims to have “a history of being incredibly inaccurate, often claiming that consumers have been on the rise or are on the decline,” and claims to be able to “help predict future rates.”
According to the site’s FAQ, the site uses “a combination of financial data, personal information, and consumer reporting data to create a credit score.”
The site also claims that it “generates a credit report with the accuracy of a credit bureau,” adding that “all credit scores are derived from the credit bureau’s own information.”
While kafkasconsumer claims to analyze more than 60,000 credit reports, it has only recently begun to take credit reporting seriously.
The site is not alone.
KafkaConsumer has also been accused of misleading consumers with a credit reporting scam called Credit Score Mania, which claims to help people get better credit scores.
The site has been taken down several times in the past few months due to spam and other malicious activity.
If you’re interested in getting a credit card with a higher credit score, the credit report site is also a good resource for finding your own.