Credit report agencies: they affect your personal credit as part of their business
Credit reporting agencies are organizations that help credit card companies, loan companies, banks, and departmental stores in the country to ascertain the credit worthiness of their would be clients. They provide these companies information about those who are good credit risk and those who are not.
They receive most information about consumers from loan companies, credit card companies, banks, credit and lending sources. In this report you will their will be information on your occupation, place of employment, residence record, court and arrest records, income status, details on payment of your past and present bills and loans.
Once they have detailed information from these sources, they into give it to any organizations in need of it when requested. Though they keep on file information concerning you and your credit, they dont make final judgments as to your credit worthiness. The decision is up to the credit card companies or any lender which you are dealing with to provide this.
Whenever you apply for new credit card, loan or any form of credit from any sources...
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