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What you didn't know about the credit bureaus.....

Did you know:

79% of people have some type of error on their credit report

20% are serious

5% are so serious that it inables some to get a loan by no fault of their own!!!

In this series of blogs, I'm going to go over some general knowledge of credit and credit bureaus. NOTE: I am not a CPA, loan originator, credit specialist or attorney. This information is gathered from public data and through discussions with those involved in the loan and credit processes.

What if I told you that the three credit bureaus aren't related to the government at all!? With the word "bureau" you probably thought they were. Nope! They are companies that make millions of dollars every year selling your information !!!!!

How you ask? From people like you buying subscriptions to credit monitoring services. These three agencies own almost all the common ones out there -,,, etc.... Most of these don't even truly reflect an accurate score either.

Companies will also purchase your information like credit score, name, address, phone number and put you on a mailing or calling list based on your credit. Did you ever wonder why you get so many "consolidate your debt" mailers or "you've been approved for the black card" mailer? Because they bought the list from the credit bureaus. That's how the money is made. Wow! I didn't tell them they could do that!!! I don't want that information out there!! Here's what you can do.

Go to When on the site, you MUST select the "permanent" option or "5 year" option. (do the permanent so you don't have to do it again 5 years from now). It doesn't cost a thing and it will NOT affect your ability to get approved for loans in the future. It WILL stop all the junk mail you get in your mailbox and will reduce the liklihood of ID theft.

Check back again next Saturday and I'll share some info on :

So where do I go to find a reliable credit score? What is a good credit score?

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