What are the consumer credit bureau rating services used for?

smithsara302 · Joined: 12 Jun 2009 Posts: 116 -0.16 Dollars($)

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1735 35.94 Dollars($)

They are used for rating the how credit worthy a person is?

ross090909 · Joined: 04 Sep 2009 Posts: 82 0.00 Dollars($)

there are three credit reprting companies in US. Those companies are providing onsumer credit bureau rating services to lenders to assess particular borrowers.From this lender can identify good or bad risk.

Three credit bureaus are
1) Experian.
2) Equifax.
3) TransUnion.

Above companies providing valuable credit rating services. Recently a fourth credit bureau has sprung out - Innovis is often called the secret 4th US credit bureau.

All US credit reporting companies collect and evaluate borrowers' data. They extract a number, FICO or Vantage based, from this lender can take decesions about approving a loan.

Borrowers need the consumer credit bureau rating services to obtain a credit score to use in mortgage applications. Credit risk is determine by FICO by lender.Lenders, employers and landlords report to the credit bureaus about certain financial transactions of consumers. Credit score reporting services are paid. But once in year its free of charge.

You can use credit bureao company to improve your credit score.
Borrowers can ask for one free credit report per bureau per year. Use it to clean up wrong items and improve your credit.

pettybob1 · Joined: 07 Sep 2009 Posts: 37 0.24 Dollars($)

The three major US credit reporting companies provide consumer credit bureau rating services to lenders to assess particular borrowers - if they are good or bad risk.

All US credit reporting companies collect and evaluate borrowers' data. They extract a number, FICO or Vantage based, upon which lenders make a decision about approving a loan.

gmakerley · Posted: Wed Sep 16, 2009 7:49 am Post subject:

yeah, i often wondered what they were used for too

a little more tedium for your day

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1735 35.94 Dollars($)

Thats really funny

gmakerley · Posted: Mon Sep 21, 2009 8:39 am Post subject:

i think it's a lot more sad than funny, truthfully, sunny.

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1735 35.94 Dollars($)

Whats can you do George

Some people are ignorant and when they relaize they do not know some thing, they turn to Internet and ask

gmakerley · Posted: Tue Sep 22, 2009 7:19 am Post subject:

what we are seeing, truthfully, is that some of our posters are asking generic questions, pretending that they don't know the answers or even how to properly ask the question. in many cases, these same people are expressing their "expert" opinions on other forums.

it's one thing is someone lacking information comes by and asks a legitimate question - that's easy to take. however, when we continually see a person, such as above, asking a very basic question and then on the other hand, providing opinion or what is supposedly "fact" on another forum.

it might just be me...but i find it disturbing. it would be like if i asked the question, "what is finance?" of course, someone probably already did that.

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1735 35.94 Dollars($)

hahahah

You are absolutely correct

All times are GMT - 7 Hours

Page 1 of 1