building better credit report essays

building better credit report essays The American dream is a puzzle, both for those who study it and for those who pursue it. We should never forget that this dream is connected to the credit as much as a fragile flower to the sun. What would you say is the American dream? Todays American dream, Lendol Calder, author of the Financing the American Dream replies, includes a house in the suburbs with a backyard for the kids to play in, a patio for barbecues, a shady street bright and obedient children, camping trips, fishing, two family cars, seeing the kids taking parts in school and church plays, and online access to the world (3). This is not the end of the puzzle. In fact, its just the beginning. To reach this dream is necessary to keep credit clean and under control. There are important things that need to be done to improve credit. There are three important players in the consumer credit game; creditors, credit reporting services and credit repairing agencies. All of them are in the game to make money but none of them are truly here to help the consumers. Creditors are the first one. They allow clients, purchasers, customers and buyers to use future income to purchase goods and services today. In exchange, creditors expect to make their own profit by applying interest (Hammond 17-18). All the creditors put trust in one another significant player in the credit game, the credit reporting service. Information on millions of American consumers is gathered by these services to provide creditors with credit histories on every one of them. Three national agencies compile credit reports; Experian, Equifax and Trans union. In fact This information is provided to them by individual creditors such as department stores, mortgage companies and banks, known as subscribers in credit bureau parlance. (qtd. i n Hammond 18). Consumers credit history is being evaluated each time they apply for new cred...