Why Do Some Accounts Only Report To Some Credit Bureaus
When it comes to credit reporting, your creditors must be subscribers of the credit
bureaus that they report information to.
Trans Union, Experian, and Equifax all
charge them money to have the...
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Why Do Some Accounts Only Report To Some Credit Bureaus
When it comes to credit reporting, your creditors must be subscribers of the credit
bureaus that they report information to.
Trans Union, Experian, and Equifax all
charge them money to have the ability to upload their data to the bureau each
month.
The credit bureaus are money making machines.
They make millions of
dollars on both ends; they charge companies to pull the credit and access it, and they
charge the companies to report their information.
There is no rule that states
creditors must report to all three credit bureaus, and because of this you will find
that many smaller creditors and collection agencies will only report to one agency.
Some choose to just report to a couple, and it really depends on their budget
allocated to credit reporting.
The larger companies like Chase, American Express,
and Discover report to all three credit reporting agencies, and the same goes for all
large auto finance companies and mortgag
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