It seems to be a duplication of data and a pain for people to get their credit reports syncronized. Why not just have 1 big CRA and when something is updated.....that is it. You don't have to worry about stuff anywhere else. You would only have to pull 1 report....instead of 3.
Look at all the people you'd put out of work. And the Post Office revenues would decrease, and they'd have to raise postage rates. And maybe the creditor's costs would go down and then they'd raise our rates (think about it--the more they save, the more they'd find a way to make us pay). They'd figure if we were saving all this money, it should go to them! Seriously, it seems to make sense, but I guess then there wouldn't be any competition.
I agree,There should only be one bureau.The low life gmac reported my account to a new credit reporting agency,Just another bureau to fight with,it never ends. creditdatausa.com Top Gun
The problem with the 1 CRA theory, is that then you would have a situation similar to the NSF/Network Solutions illegal-government contolled monopoly, which lead to the de-regulation of the internet domain name monopoly.
Not to mention that it is exactly the duplicate of work, and unsyncing of credit report information that a lot of people have turned in to a steady secondary income...
I beleive there are actually more, though not as big....but I'm sure they'll get bigger and p!ss us off LOL
CREDIT reporting agencies TU EX EQ -Innovis Those are the 'major' 4; but when we get to call one number in December, and get all the national CRA reports in one foul swoop, we'll know the other ones. And those aren't including the ones which will be SPECIALTY CRA'S under FACTA.
