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The Agencies Reporting Credit Serve Elite Agendas. Credit is a Scam That is Designed to Enslave People to Debt and a Lifetime of Tracking & Rating by NWO Bankers.

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The first agencies reporting credit began with Lewis Tappan, a 19th century businessman who was an unlikely person to establish the first system of collecting and sharing individual credit histories.

A staunchly religious man, Tappan initially railed against lending money with interest, a practice that was specifically prohibited in the Bible.

Nevertheless, tough economic times in the 1840’s forced him to begin selling his goods on credit.

To minimize his risk of making these loans, Tappan began keeping detailed credit records about his customers and their payment histories.

Tappan’s credit reporting system was so good that other companies began paying him for access to his records.

By the 1850s, Tappan had established a nationwide network of credit reporting agencies that employed 2,000 full-time credit researchers.

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Know Your Credit

Agencies reporting credit are increasingly powerful institutions that are controlled by the same elitist banksters that run the big financial institutions.

They just love the fact that just one bad entry on your credit report can now cripple your borrowing power with corporate lenders for years because it keeps you paying back your debts.

Even worse, credit reports are increasingly requested by employers, landlords and insurance companies before they will agree to deal with you.

This blacklisting of those who have poor credit is why it has become so important to make sure that everything on your credit report is true and accurate, and that you make timely payments on any debt obligations you may have incurred.

According to a 2004 study, one out of every four credit reports contains serious errors that may include debts wrongfully listed as delinquent, closed accounts listed as open, debts that belong to other people with the same name and other mistakes.

With over 4.5 billion pieces of data collected each month by credit reporting agencies, a lot of room for error exists.

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Credit Reporting Becomes Fairer

For decades, the information collected by agencies reporting credit was hidden from consumers and individuals had no idea why they were denied credit or whether or not their reports contained any mistakes.

Also, in the past, credit reports only contained negative credit events, not positive information.

Agencies were also allowed to share ”lifestyle” information about consumers, like their sexual orientation and any reported problems with drugs or alcohol.

Beginning with the Fair Credit Reporting Act in 1971, and continuing with recent legislation, U.S. citizens now have free access to their credit reports from each of the three main credit reporting agencies Experian, TransUnion and Equifax. Citizens also have the right to know exactly why their credit was denied by any institution they applied to.

The Fair and Accurate Credit Transactions Act of 2003 (FACTA) goes even further, giving U.S. citizens the right to request one free copy of their credit report from each of the Big Three agencies reporting credit every year.

FACTA also includes several provisions protecting against the growing problem of identity theft.

However, as more and more people become trapped by credit card debt, excessive medical bills, and other unsecured debt, it is increasingly important to have a good understanding of debt relief options and to be careful to avoid spending beyond your means.

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