Why Your Creditors LOVE Bad Credit
Creditors in the credit equation are known as Data Furnishers. They are the agencies who offer financing to consumers, then report the pay histories back to the credit reporting agencies or the credit bureaus. Some other personal information is also given by creditors, including consumers’ names, date of birth, social security number, address, prior addresses,…
Why The Credit Bureaus LOVE Bad Credit
Your credit profile is made up of data collected by creditors, then reported to the credit bureaus. The bureaus then make a profit by selling this data in reports, leads, and other methods to creditors for the purpose of issuing new credit or soliciting you for credit. For example, when a creditor, such as CHASE,…
