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Credit bureaus are watching you; judging your every move

Credit bureaus are entities that house information – you ID number, your name, address, qualifications, employment history, payment obligations and credit agreements.

Alison Magrath, National Credit Regulator Compliance Manager

Credit providers may access your credit report from credit bureaus without your consent.

Alison Magrath, National Credit Regulator Compliance Manager

What is a credit bureau?

You may or may not know the answer. It doesn’t matter. They’re watching your every credit move.

Need a loan?

Your credit profile and score is vital!

The Money Show’s Bruce Whitfield interviewed National Credit Regulator (NCR) Compliance Manager Alison Magrath about the science of credit bureaus, credit profiles and scores.

Listen to the interview in the audio below (and/or scroll down for more quotes from it.)

Every credit provider has to look at the affordability of a consumer before providing credit.

Alison Magrath, National Credit Regulator Compliance Manager

The NCR is exceptionally concerned about the use of credit reports for employment purposes.

Alison Magrath, National Credit Regulator Compliance Manager

If you have no debts at all; it’s difficult to get credit.

Alison Magrath, National Credit Regulator Compliance Manager

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Article brought to us by Old Mutual.

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