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Knowledgebase Home | Favorites | Forum Welcome to our knowledge base. To find what you're after, use the search box below or choose a category to view listed articles. Search the Knowledgebase Browse by Category [Advanced Search] -- Select Category -- Credit MythbustersLoans    - Personal Loans    - Auto Loans    - Home Loans    - Student LoansCredit CardsCredit Reports and ScoresCredit Report CardIdentity TheftDebt HelpConsumer Law Guide    - College Cost Reduction and Access Act    - Credit Card Accountability Responsibility and Disclosure Act (CARD Act)     - Credit Repair Organizations Act (CROA)    - Equal Credit Opportunity Act (ECOA)    - Fair and Accurate Credit Transactions Act (FACTA)    - Fair Credit Reporting Act (FCRA)    - Fair Debt Collection Practices Act    - Overdraft Rules for Debit and ATM CardsCustomer Support The article has been updated successfully. Knowledgebase Home > Credit Reports and Scores I’ve heard that a consumer statement is a good thing to add to my credit report because this will help my credit scores. Is this true? Article Details Last Updated 3rd of November, 2009 Would you like to... Discuss Print this page Email this page Post a comment Subscribe me Add to favorites Remove Highlighting Edit this Article Quick Edit Export to PDF User Opinions (2 votes) 50% 50% How would you rate this answer? Helpful Not helpful Help us improve. Why was this unhelpful? Thank you for rating this answer. No, unfortunately this is not true. A consumer statement can be added to any credit report, up to 100 words (200 in some states). However, you cannot quantify this statement. Therefore, it will not have any effect, positive or negative, to your credit report or credit score. In many cases, the lender will not even see the information that you have added as a consumer statement. Not sure where you stand? Check your credit reports and scores online today! Related Articles I heard that there's a new change in loan modification reporting that will help consumers; what is the latest? What is a good credit score? I've heard that there's different "types" of consumers; what are they? Should I close credit card accounts that I'm not using or that I paid off? Should I avoid getting new credit after a bankruptcy? Continue