It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
Credit agencies are in the business of collecting and selling our personal data for a profit without compensating us. According to the CFPB (Consumer Financial Protection Bureau) the consequences of errors in a consumers report can be catastrophic for a consumer, shutting him or her out of credit markets, jeopardizing employment and new employment opportunities or significantly increasing the cost of housing and interest rates.
Another little known revenue source that all 3 major credit reporting agencies make 100’s of millions of dollars per year is memberships to businesses allowing them to check your credit and put information on your report. The problem with that is they don’t ask the credit or debt collection agency if the information is accurate.
The biggest misconception about credit is that it’s a good thing. Credit is for poor people and a financial strategy created by the wealthy to create debt. The problem with that is most poor people do not know how to leverage debt.