Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

How do credit reporting agencies work?

agencies credit
0
Posted

How do credit reporting agencies work?

0

The banks, retail stores, utility companies, etc. report your payment record to the credit reporting companies each month. The credit reporting companies then give that information to a second tier of regional reporting companies who sell it to retailers and banks or anyone who legitimately requests information about you.

What is your question?

*Sadly, we had to bring back ads too. Hopefully more targeted.