Insights from a Credit Bureau Insider

Kevin Haney Credit Bureau InsiderHi – my name is Kevin Haney. For more than a decade I worked as a Sales Director for one of the three major credit bureaus in the U.S.

Now it is time to give back, and share what was learned during this season of my life. The internet is full of information about credit scores, credit reporting, managing your debt, improving your scores. And much of what is written is written by people without the same depth of understanding.

Gain valuable insights about credit bureaus from an industry insider!

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Paying your credit card balances prior to the account due date has many advantages including lower interest costs, avoided late fees, and fewer delinquencies to stain your consumer report.

An improvement in your balance to limit ratio may not be one of those benefits, unless you make an extra payment just before your statement date.

 

When that letter arrives in the mail proclaiming that you are preapproved for a credit card, it may sound too good to be true. Banks often target these offers to people with fair or moderate risk profiles; so many recipients wonder whether they will be denied after accepting the offer. Banks are legally required to…

 

People do not write personal letters as they did in the past. Opening your mailbox is not as fun anymore. Now, all we get are bills and untargeted direct mail. Getting pre-approved credit card offers in the mail is actually exciting by comparison! The offers open a world of opportunity – if you get them….

 

I was a sales director for over a decade for one of the big three credit bureaus. My job was to recruit, train, and lead sales representatives to grow revenue. Consumer reporting agencies make money by selling behavioral information to businesses with a permissible purpose to buy it. People frequently ask whether credit agencies sell…

 

Do credit bureaus really investigate disputes? Consumer report errors do occur, and a legal process exists to help consumers identify and request correction of information that is not accurate. Entries may fall into one of three categories. Sometimes they refer the investigation to the original data furnisher, sometimes they perform they actually investigate possible errors…