Credit Bureaus are businesses

There is a common misconception that the credit bureaus are government entities, or at the very least, not-for-profit agencies, created and regulated to act and conduct business in the best interest of the consumers they represent.

In fact, they are very much for profit. In fact, in the case of Experian, they make their money selling the information they collect on 215 million consumers around the world. As of 2006, Experian had revenue of $3.1 billion, and a net income of $520 million. That money comes from several different products and services, but the raw material is the consumers’ information. (more…)

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