Secrets Of The Credit Bureaus!

Want to know the number one secret of Credit Bureaus?

Credit Bureaus Are in Business to Make Money.

Every one of the major credit reporting agencies or credit bureaus; TransUnion®, Experian® and Equifax®, are independent businesses. They are, at their core, the largest list broker services in the nation; which means that they sell consumer information, and not just in the case of credit reports. They sell qualified lists. They’re the largest list brokers in the nation.

Isn’t it amazing that you can call up any one of the 3 credit bureaus and request that documentation? They will sell you that information that qualified list. And nobody whose name is on that list needs to be asked if it’s okay with them, because that’s the business that they’re really in.

A credit report is nothing more than taking the same information they already have on all of us and putting it into a package that we call a credit report, and then selling it.

Here’s another secret:

Credit Bureaus Are in Business to Make Even MORE Money.

Another way credit bureaus make money and one that most people don’t realize is, they get paid by the creditors. The creditors actually pay to report information.

Not only does it cost them money to compile it, but they also have to purchase the software system that integrates with the credit scoring companies or the credit bureaus themselves, TransUnion®, Experian® and Equifax®, they have to pay for that and they have to pay to report every line that they report on consumers.

For more information on beating the credit bureaus and increasing your trade credit, read on! Increase Trade Credit.

About The Author: Scott Letourneau is the CEO of Fast Business Credit, Inc. When it comes to securing cash and vendor lines of credit and avoiding costly mistakes his company is the authority. For further assistance regarding the development of business credit go to http://www.FastBusinessCredit.com or call FBC at 1-888-313-6333 or 702-977-5246.