1. What is Credit Score Bidding TM? The ability to use multiple bidders in an auction process to determine the level of interest rates. Based on the market value and the monetizing of one's credit, credit history and credit score.Back to Top
2. Why give your hard earned credit away to only one source? When you offer your credit to one single lender or credit card issuer, they will determine the value of your credit based on their individual perception of its value. Wrong! Monetize your credit because, interest paid and/or interest saved is real money, allow multiple lenders and credit card issuers to bid on your credit allowing the marketplace to determine it's value. Back to Top
3. Is there a cost for this service? NO. This is a free service for our users: borrowers / consumers and credit card seekers.Back to Top
4. Can I offer my credit score for bid to get credit cards? Yes! It is easy, login / register and go to the Credit Card BiddersTM area.Back to Top
5. How can credit market value be determined? The best way is to allow brokers,loan officers,lenders and credit card issuers to bid on your credit score. Only open free market bidding will indicate a true picture of the value of your credit in the marketplace. Stop settling for one lender's or credit card issuer's perception of your credit.Back to Top
6. What is the benefit and How can I save money? The loans offered by bidders should contain cost savings and reduced interest rates reflecting the monetary market value of the borrowers or credit card seekers credit as determined by the bidders. The question here is what interest rate will my credit score get in an bidding scenario? The idea here is that in the financial world, with reference to consumers and borrowers the "Be-all and End-all" is based on one's credit or creditworthiness. Is it not logical to think that one's credit has immense value and that real or perceived value has the wherewithal to measure the worth of this extremely valuable commodity in the marketplace? The only way to fairly appraise this value in the marketplace is by using a free open market and bidding process.Back to Top
7. How do I get paid for a referral? It's simple and easy just refer friends, family, neighbors and co-workers who you know to be prospective loan seekers. When their mortgage loan is closed you will receive a referral fee paid by Kutro, LLC.Back to Top
8. Why is this concept needed? A consumer goes to an auto dealership with credit score in hand. The dealership will not accept the face value of your credit report, received from one of the credit reporting agencies. They will instead elect to pull their own copy of your credit report from the same credit reporting agencies. Now the credit reporting agency will produce an industry specific credit report and in this case the industry is auto loans.Three very telling facts are revealed:The auto loan industry specific credit report will indicate a lower score. The dealership will use the lower score to work the loan. It's obvious that the lower score will produce the most interest paid over the life of the loan. Let's be impartial here. Should not the consumer, credit reporting agency and industry group be on the same page regarding credit scores? Would not this simple change be of great benefit to all consumers?This problem knows no boundaries it affects all consumers, whether one has bad credit or good credit.What has caused this problem? The industry groups credit risk modeling system software used to determine credit scores.A casual observer can readily see that the current credit modeling system software as well as its use in the credit scoring and reporting process is flawed or simply in need of re-engineering.Is there a better solution? Yes. Kutro has the answer. Monetize your credit and credit score using our auction process. During our initial research, a consumer reports a sense of empowerment using this service.Ask the auto dealership to go to our website and offer an interest rate bid on your credit and credit score.Discover the true monetary value of your credit in the marketplace.Back to Top 9. What is a (RFB) request for bid? Users complete a (RFB) form with basic information: loan type, loan purpose and loan amount requested. This document along with your sign in information initiates the bidding request. This is only required for loans and it is not required for those seeking credit cards.Back to Top 10. Will I need a current credit report? Yes.Back to Top 11. Why is a credit report needed? A current online credit report is vital to users in the bidding process; users indivdual credit score helps to insure their best opportunity for a favorable winning bid. A credit report is the only available tool used by bidders / lenders and credit card issuers to evaluate your credit, credit history and credit score. If you know your current credit score there is no need to get a credit report, you only have to sign up / register and start using the service.Warning: Do not inflate your credit score. Do not knowingly submit a false credit score. Do not misrepresent the accuracy of your consumer credit. It will not work, it will only waste everyones time. The bidder will more than likely pull your credit report for verification. If you continue to violate this policy, you will be banned from this service. We will not allow anyone to use this service with the sole intent to commit fraud.Back to Top 12. Is there a cost for the credit report? Yes.Back to Top 13. Price Range? The Price Range from $15.95 to $47.50Back to Top 14. Do I need to purchase an individual report from each credit bureau? No. We suggest you purchase the joint fico report and we believe this is more compatible with the scores lenders use to evaluate your creditworthiness.Back to Top 15. Who determines the cost for the credit reports? The cost is set by the major credit bureaus: Equifax,Transunion and FicoBack to Top 16. Experian no longer offer individuals access to credit scores On February 14, 2009 Experian decided to not offer individuals credit reports. Their decision was to offer consumer's credit reports or credit scores to lenders only.Back to Top 17. Can users access credit reports from the major credit bureaus using this website? Yes. Simply click on the link below.Get an Equifax 3-in-1 Credit Report Now! Back to Top 18. How to get a free credit report? Federal law states a consumer has the right to receive a free copy of their credit report once every 12 months. The free credit report can be received from the three major credit bureaus go to http://www.annualcreditreport.comBack to Top 19. Fico Score Range 300 - 850Back to Top 20. Research indicates the average consumer's credit score range 672 - 698Back to Top 21. Will the credit score bidding service require my Social Security Number? No.Back to Top 22. Are borrowers and consumers required to complete a loan application? If so why? The loan applications either a mortgage loan or consumer loan are designed to collect basic information. No social security numbers or bank account numbers are needed. This information is helpful to the bidders in their effort to offer the best interest rate bid possible, based on your unique position of creditworthiness. Back to Top 23. How will you keep my identity anonymous? Each user/borrower completes a (RFB) request for bid and during registration users will receive a I.D.# to keep your personal identity out of public view. I.D.#'s are assigned to credit card seekers as well. We will never sell your personal information to a third party.Back to Top 24. Are you a Mortgage Company? No.Back to Top 25. Do you make loans? No.Back to Top 26. Are you a mortgage broker? No.Back to Top 27. Can users buy, sell or auction real estate property on this online website? No.Back to Top 28. How does credit score bidding work?Consumers or borrowers can initiate the process by issuing a Request For Bid (RFB).Example # 1John and Susie Public have an average credit score of 730 and they need to buy a house. They would submit their credit score to the borrowers exchange and initiate a (RFB) request for bid for lenders. Based on the monetary value of their credit in the marketplace the borrowers should demand the best loan rates as well as the best overall loan package from bidding lenders desiring to secure business with the borrower.Example # 2Bill and Mary Public have an average credit score of 695 and Bill wants to buy a new fishing boat. They would submit their credit score to the borrowers exchange and initiate a (RFB) request for bid for lenders. Based on the monetary value of their credit in the marketplace the borrowers should demand the best loan rates as well as the best overall loan package from bidding lenders desiring to secure business with the borrower.Back to Top29. What is monetizing creditTM ?This is a powerful concept discovering the true monetary market value of credit, consequently lowering loan cost for borrowers and consumers as well as those seeking credit cards.Monetizing Credit - Consumers or borrowers would initiate the process by issuing a Request For Bid (RFB).Consumers place their credit out for bid enabling mortgage brokers, loan officers,credit card issuers and lenders the opportunity to offer an interest rate bid based on their credit market value.*Monetizing Credit Income Opportunity - borrowers can refer other borrowers and get paid. Net $7.00 for each referral. The $7.00 is held during the loan approval and signing process. Once the applicant has signed and closed the loan the referrer is sent a check for their referral. If the applicant is not approved or if the applicant opt-out of the loan process the referrer will not receive the $7.00 referral fee. The end result is no payment due for referral because the loan did not close.Back to Top 30. How often are the referral checks mailed out? The checks are mailed only once per 45 day period.Back to Top31. What are the benefits lenders should offer borrowers / consumers?Lower mortgage interest rates and fees Lower loan cost Guarantee of quality service Suitability of loan Affordability of loan Interest rate lock Full disclosure (including interest rate mark-up / YSP) BSI rating (Borrowers Satisfaction Index ) Net tangible benefit guarantee for refinance Rate Mover Pledge Back to Top32. What are the borrower / consumer benefits?Level playing field Empowerment within loan process Cost control Interest rate lock Predatory lending prevention Suitability of loan Affordability of loan Full disclosure Consumers would learn the monetary value of their credit Leverage credit monetary value to it's maximum benefit Rate Mover Pledge Lower loan and credit card interest rates using bid processBack to Top33. What is the Rate Mover PledgeTM?Prevents interest rate low balling in the bidding process by mortgage brokers, loan officers, lenders and credit card companies securing the winning bid. I promise to not inflate my interest rate bid offer after the fact. I promise not to practice bait and switch tactics or make false promises to my valued customers.Back to Top34. What is the Borrower ExchangeTM ? An online website which offers borrowers credit score for bid by a reverse auction process. Rather than the bidder with the highest bid winning as is the case in standard auctions, the winner is the lender who has the "Lowest Unique Bid".Back to Top 35. How is the Lowest Unique Bid Determined? The "Lowest Unique Bid" can be the amount of interest close to or lower than the prevailing current interest rate. The amount lower than and even in some cases equal to or possibly higher than the current interest rate where no other bidder has bid the same amount of interest is considered the "Lowest Unique Bid". Overall, remember that it is the marketplace monetary value of your credit history, credit and credit score, that will determine the interest rate bid offer. It is your right as a consumer to accept or reject the final bid.The table below provides examples of how this is worked out: bid 5.50% Low - Not Unique bid 5.75% Lowest Unique Bid bid 5.50% Low - Not Unique bid 6.35% Not Lowest - Not Unique bid 6.98% Not Lowest - Not Unique bid 6.91% Not Lowest - Not Unique bid 6.83% Not Lowest - Not Unique
Three very telling facts are revealed:
Let's be impartial here. Should not the consumer, credit reporting agency and industry group be on the same page regarding credit scores? Would not this simple change be of great benefit to all consumers?
This problem knows no boundaries it affects all consumers, whether one has bad credit or good credit.
What has caused this problem? The industry groups credit risk modeling system software used to determine credit scores.
A casual observer can readily see that the current credit modeling system software as well as its use in the credit scoring and reporting process is flawed or simply in need of re-engineering.
Is there a better solution? Yes. Kutro has the answer. Monetize your credit and credit score using our auction process. During our initial research, a consumer reports a sense of empowerment using this service.
Ask the auto dealership to go to our website and offer an interest rate bid on your credit and credit score.
Discover the true monetary value of your credit in the marketplace.
9. What is a (RFB) request for bid? Users complete a (RFB) form with basic information: loan type, loan purpose and loan amount requested. This document along with your sign in information initiates the bidding request. This is only required for loans and it is not required for those seeking credit cards.Back to Top
10. Will I need a current credit report? Yes.Back to Top
11. Why is a credit report needed? A current online credit report is vital to users in the bidding process; users indivdual credit score helps to insure their best opportunity for a favorable winning bid. A credit report is the only available tool used by bidders / lenders and credit card issuers to evaluate your credit, credit history and credit score. If you know your current credit score there is no need to get a credit report, you only have to sign up / register and start using the service.
Warning: Do not inflate your credit score. Do not knowingly submit a false credit score. Do not misrepresent the accuracy of your consumer credit. It will not work, it will only waste everyones time. The bidder will more than likely pull your credit report for verification. If you continue to violate this policy, you will be banned from this service. We will not allow anyone to use this service with the sole intent to commit fraud.
Back to Top
12. Is there a cost for the credit report? Yes.Back to Top
13. Price Range? The Price Range from $15.95 to $47.50Back to Top
14. Do I need to purchase an individual report from each credit bureau? No. We suggest you purchase the joint fico report and we believe this is more compatible with the scores lenders use to evaluate your creditworthiness.Back to Top
15. Who determines the cost for the credit reports? The cost is set by the major credit bureaus: Equifax,Transunion and FicoBack to Top
16. Experian no longer offer individuals access to credit scores On February 14, 2009 Experian decided to not offer individuals credit reports. Their decision was to offer consumer's credit reports or credit scores to lenders only.Back to Top
17. Can users access credit reports from the major credit bureaus using this website? Yes. Simply click on the link below.Get an Equifax 3-in-1 Credit Report Now!
18. How to get a free credit report? Federal law states a consumer has the right to receive a free copy of their credit report once every 12 months. The free credit report can be received from the three major credit bureaus go to http://www.annualcreditreport.comBack to Top
19. Fico Score Range 300 - 850Back to Top
20. Research indicates the average consumer's credit score range 672 - 698Back to Top
21. Will the credit score bidding service require my Social Security Number? No.Back to Top
22. Are borrowers and consumers required to complete a loan application? If so why? The loan applications either a mortgage loan or consumer loan are designed to collect basic information. No social security numbers or bank account numbers are needed. This information is helpful to the bidders in their effort to offer the best interest rate bid possible, based on your unique position of creditworthiness. Back to Top
23. How will you keep my identity anonymous? Each user/borrower completes a (RFB) request for bid and during registration users will receive a I.D.# to keep your personal identity out of public view. I.D.#'s are assigned to credit card seekers as well. We will never sell your personal information to a third party.Back to Top
24. Are you a Mortgage Company? No.Back to Top
25. Do you make loans? No.Back to Top
26. Are you a mortgage broker? No.Back to Top
27. Can users buy, sell or auction real estate property on this online website? No.Back to Top
28. How does credit score bidding work?
Consumers or borrowers can initiate the process by issuing a Request For Bid (RFB).
Example # 1
John and Susie Public have an average credit score of 730 and they need to buy a house. They would submit their credit score to the borrowers exchange and initiate a (RFB) request for bid for lenders. Based on the monetary value of their credit in the marketplace the borrowers should demand the best loan rates as well as the best overall loan package from bidding lenders desiring to secure business with the borrower.
Example # 2
Bill and Mary Public have an average credit score of 695 and Bill wants to buy a new fishing boat. They would submit their credit score to the borrowers exchange and initiate a (RFB) request for bid for lenders. Based on the monetary value of their credit in the marketplace the borrowers should demand the best loan rates as well as the best overall loan package from bidding lenders desiring to secure business with the borrower.
29. What is monetizing creditTM ?
This is a powerful concept discovering the true monetary market value of credit, consequently lowering loan cost for borrowers and consumers as well as those seeking credit cards.
Monetizing Credit - Consumers or borrowers would initiate the process by issuing a Request For Bid (RFB).Consumers place their credit out for bid enabling mortgage brokers, loan officers,credit card issuers and lenders the opportunity to offer an interest rate bid based on their credit market value.
*Monetizing Credit Income Opportunity - borrowers can refer other borrowers and get paid. Net $7.00 for each referral. The $7.00 is held during the loan approval and signing process. Once the applicant has signed and closed the loan the referrer is sent a check for their referral. If the applicant is not approved or if the applicant opt-out of the loan process the referrer will not receive the $7.00 referral fee. The end result is no payment due for referral because the loan did not close.Back to Top
30. How often are the referral checks mailed out?
The checks are mailed only once per 45 day period.
31. What are the benefits lenders should offer borrowers / consumers?
32. What are the borrower / consumer benefits?
33. What is the Rate Mover PledgeTM?
Prevents interest rate low balling in the bidding process by mortgage brokers, loan officers, lenders and credit card companies securing the winning bid. I promise to not inflate my interest rate bid offer after the fact. I promise not to practice bait and switch tactics or make false promises to my valued customers.
34. What is the Borrower ExchangeTM ? An online website which offers borrowers credit score for bid by a reverse auction process. Rather than the bidder with the highest bid winning as is the case in standard auctions, the winner is the lender who has the "Lowest Unique Bid".Back to Top
35. How is the Lowest Unique Bid Determined? The "Lowest Unique Bid" can be the amount of interest close to or lower than the prevailing current interest rate. The amount lower than and even in some cases equal to or possibly higher than the current interest rate where no other bidder has bid the same amount of interest is considered the "Lowest Unique Bid". Overall, remember that it is the marketplace monetary value of your credit history, credit and credit score, that will determine the interest rate bid offer. It is your right as a consumer to accept or reject the final bid.The table below provides examples of how this is worked out: bid 5.50% Low - Not Unique bid 5.75% Lowest Unique Bid bid 5.50% Low - Not Unique bid 6.35% Not Lowest - Not Unique bid 6.98% Not Lowest - Not Unique bid 6.91% Not Lowest - Not Unique bid 6.83% Not Lowest - Not Unique
36. Who is the winning bidder? The winning bidder is the person who has the Lowest Unique Bid at the close of the auction subject to the winning bid being validated. The Lowest Unique Bid is the lowest bid which has not been offered by any other Bidder. Back to Top
37. What if none of the bids are unique? In the event that there is not one single Lowest Unique Bid at the close of the auction, the winning bid will be the earlier of the lowest bid amount with two bidders. If this still does not produce a winner, it will go to the lowest bid with three bidders, and the process continues until a winner is producedBack to Top
38. How do I deactivate my account? Email mailto:customerservice@kutro.com with the request for account deactivation.Back to Top
39. I have more questions, how do I get answers for those? Email your questions to info@kutro.comBack to Top
40. How secure is your website and registration process? The website and registration process is a secure "SSL" encrypted site.Back to Top
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