Repair My Credit Rating: The Big 3 Consumer Credit Reporting Services To Look Out For

Anybody who may be taking steps to repair their credit rating needs to comprehend a few factors about the "Big 3".

The Big 3 credit reporting agencies are Equifax, Experian and Trans Union and they actually do not want you to raise your credit ranking.

Why?

Mainly because the big 3 are private, for profit companies and these private for profit corporations make billions from reporting adverse credit.

That's right...

Did you know it is believed that the big 3 make seven times more money by simply reporting bad credit than for reporting a good credit rating.

I can sense a perplexed look so let me explain...

The Big 3 generate profits each time a prospective creditor pulls a credit rating for an individual like you or me wanting credit.

1. It is determined that a person with low credit score tries 7 times to get credit before gaining approval whilst a person with a good credit score applies only once and gets accepted straight away.

2. The Big 3 charge credit card companies each month for reporting bad creditor accounts.

3. The Big 3 sell our contact data to prospective creditors who want to fill your mail box along with my mail box with junk mail offers.

Now you know how they acquired your name and address.

They make billions off reporting poor credit.

Once the credit dispute companies, or you either fire off rounds of dispute letters or receive "verified as accurate" response letters this is actually the Big 3 blowing you off.

But there is even worse - the Big 3 may in fact flag your legitimate disputes as frivolous therefore shutting you out from getting the accurate reporting that you legally should have.

Clearly the 3 main credit reporting agencies are not that interested in helping you to improve your credit rating.

Effective credit repair is not just about dispute letters that is only one element.

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