What Do The Credit Reporting Agencies Do?

The Credit bureaus “Experian, Trans Union, and Equifax” make huge profits in oh so many ways. How to count the ways?
Selling information to Credit Gran-tors about your consumer credit history- selling a snapshot of a credit history showing the history, usually a 7-10 year view.
Selling information to any company who is looking for a list of a target market for prospecting- since they CB’s are gathering so much information they can organize and prepare the information for any business that wants a list of a certain type of consumer earning a specific amount of income. For example: If I am Capital One and I want to offer a 0 percent interest card to a consumer who lives in an area where average income is over $90,000 and I want the consumer to have 5 other lines of credit and I request consumers with high scores so I know I am prospecting great credit risks the CB’s can supply that list and I can do a mass mailing for business purposes.
The same goes for a company that is negotiating tax debt or looking for potential foreclosure candidates. If I was one of these companies the bureaus can supply me with a list of all consumers with unpaid Tax Liens or borrowers who have 4-6 continuous late payments on their current mortgage. I might be looking for Students to sell used text books to. I request a list of all consumers , in a certain age range, with open student loans. These are just a few examples of some of the ways these lists might work. So now you know how that telemarketer who called you last week might have gotten your info. How the insurance company that sent you a promotional letter knew you just bought a new home or car. You can imagine the amount of power and money these lists could be worth to any business.