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Credit Education > Credit Report > Blacklisting? The issue of blacklisting in credit bureaus does not exist

Blacklisting? The issue of blacklisting in credit bureaus does not exist

By Janet Lacey
Published: Saturday, December 12th, 2009

The three towers of the financial business are TransUnion, Equifax and Experian. They are said to be towers not because they are major players in investing and financing but they are powerful enough to change the course of someone’s life, more particularly those who would want to get credit accounts. They are the internationally recognized credit worthiness raters.

A single bad credit report or a low FICO score from these companies will automatically make an individual unviable for credits. They compute these scores and reports from the credit history records which are accounted through the financial activities of individuals. Negative information is the main concern of these companies since this information is responsible for making people look unworthy of credits by making scores lower and worse reports. 

 Many people believe that if they are avoiding the negative possibilities of bad debts they are well off as compared to those who are more exposed in debts. However, most of these people end up frustrated as compared to those who are availing loans and installments simply because there are needs and wants that cannot be purchased right away, for example a dream house.

One way or another people will slowly realize that a good credit report and score can go along way. Unfortunately, some people realize this brute fact too late and find themselves unwanted by financing companies. A good credit history record can only be achieved through constant maintenance of good financial habits and decisions. Having no credit history is not equal to a good one or to a bad one. Having no credit history will simply means that the individual is incapable of participating in such financial activities.

Fortunately, the credit bureaus pay no mind in personal decisions such as participating in the financial market. This means that there is no such thing as a credit bureau black list. Credit report and FICO score are computed by the credit bureau apart from the personal lives of the individuals. The main foci of these bureaus are on the credit history record of the individuals and on their viability for loans, installments and other financial agreements. Credit bureaus can assure everyone that the individuals’ personal biases on current employment, religion, beliefs, and even social participation bear no weight at all in the computation of credit score and writing of the report.

On the other hand, there are few things that anyone who aspires to get a good loan or a cheap installment interest rate should know- credit history and payment history are the main considerations. In the perspective of credit bureaus these two documentations bear the most weight in the credit report and FICO score of an individual. This focus of credit bureaus makes it advisable for anyone who would want to appear as credit worthy to fix possible disputes as early as possible. If an individual will choose to repair the small wrong details in his or her current credit records, it can give the individual a good start in appearing as credit worthy. There is no such thing as a blacklisted individual in the eyes of credit bureaus there are only those that neglect their responsibilities and ended up becoming unviable and credit unworthy.

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