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I don't know what you mean by "opting in". The credit reporting agencies keep track of you without your consent by providing services to other companies and ag

I don't know what you mean by "opting in". The credit reporting agencies keep track of you without your consent by providing services to other companies and agencies. Have you ever had a bank account? Gotten a credit card? A mortgage? Missed a student loan payment? When I got my very first credit report, which I was entitled to by law, the reporting agencies asked me to very information they already had about my life and financial history dating back to my early teenage years.

moremetadata 4y ago
It pays to check credit files, British Telecom linked someone else's bad debts to my file simply for trying to broker a repayment plan for the other person, and I got financially linked to other people I wasnt financially linked to. Especially important if sharing properties as a student. >When I got my very first credit report, which I was entitled to by law, the reporting agencies asked me to very information they already had about my life and financial history dating back to my early teenage years Thats because they dont know if the data supplied to them is genuine or not. Postal addresses were also a problem, I know of programmers who would boast about how quickly they could clean millions of records a second in the 90's (in memory rather than disk), but the credit reference companies main issue is getting clean data. A bank might have one address for you, and another bank or loan company might have a different address for you, both work in that the post office deliver the mail but the addresses are different. example House Name House No, Street Town/City Postcode(zip code) House No, Street Town/City Postcode(zip code) House Name Street Town/City Postcode(zip code) Post office should deliver to all 3 addresses, but a computer program see's differences, ergo cleaning data and recognising these differences were one and the same involved a lot of time. Other examples is the name of someone. A.N. Surname Arthur N Surname A. Name Surname All the same person, 3 different but legal ways to do a name on paperwork. >The credit reporting agencies keep track of you without your consent by providing services to other companies and agencies. The contracts signed with banks and lenders of sort have blanket clauses where they can share their data with whoever they like. You have no control over this. So they do have consent and they sometimes use this for "fraud detection", so either dont deal with them, go cash and/or crypto.

moremetadata 4y ago

It pays to check credit files, British Telecom linked someone else's bad debts to my file simply for trying to broker a repayment plan for the other person, and I got financially linked to other people I wasnt financially linked to. Especially important if sharing properties as a student. >When I got my very first credit report, which I was entitled to by law, the reporting agencies asked me to very information they already had about my life and financial history dating back to my early teenage years Thats because they dont know if the data supplied to them is genuine or not. Postal addresses were also a problem, I know of programmers who would boast about how quickly they could clean millions of records a second in the 90's (in memory rather than disk), but the credit reference companies main issue is getting clean data. A bank might have one address for you, and another bank or loan company might have a different address for you, both work in that the post office deliver the mail but the addresses are different. example House Name House No, Street Town/City Postcode(zip code) House No, Street Town/City Postcode(zip code) House Name Street Town/City Postcode(zip code) Post office should deliver to all 3 addresses, but a computer program see's differences, ergo cleaning data and recognising these differences were one and the same involved a lot of time. Other examples is the name of someone. A.N. Surname Arthur N Surname A. Name Surname All the same person, 3 different but legal ways to do a name on paperwork. >The credit reporting agencies keep track of you without your consent by providing services to other companies and agencies. The contracts signed with banks and lenders of sort have blanket clauses where they can share their data with whoever they like. You have no control over this. So they do have consent and they sometimes use this for "fraud detection", so either dont deal with them, go cash and/or crypto.