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

Any person who may be doing their best to repair their credit rating needs to know a few factors regarding the "Big 3".

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

The key reason why?

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

That's right...

Were you aware that it is actually calculated that the big 3 make seven times more income by simply reporting a bad credit score than for reporting good credit.

I can sense a perplexed look and so allow me to explain...

The Big 3 earn cash every time a prospective financial institution pulls credit for an individual just like you or even me wanting credit.

1. It is determined that someone with low credit score will try 7 times to get credit before getting approval whilst somebody with a favorable credit record applies only once and gets accepted right away.

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

3. The Big 3 sell our contact information to prospective lenders who would like to fill your mail box along with my mail box with junk mail offers.

You now know how they acquired your name and address.

They generate billions off reporting bad credit.

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

There is however even worse - the Big 3 could possibly in fact flag your valid disputes as frivolous therefore shutting you out from obtaining the accurate reporting you legally should have.

Plainly the 3 main credit scoring agencies are not that keen on helping you to improve your credit rating.

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

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