Credit bureaus are notorious for their attempt to control lending and shopping among consumers, by tracking and marking who they visit and if they are approved or not. This to me is an invasion of privacy sorely to produce profit for the CRA’s. There should never be a track of who a buyer visits to make purchases, or loans other than between them and respective party. Allowing information and negative scoring factors resulting from shopping is wrong. It undermines the economic system and prevents free enterprise in the United States. If all inquires were deleted from consumer files there would be substantial increases in credit scoring, greater trust among consumers in banking and retail shopping along with credit card services.
Not everyone will carry a perfect score and will continue to shop, however they will never get ahead as long as current scoring trends continue.
Credit bureaus are notorious for their attempt to control lending and shopping among consumers, by tracking and marking who they visit and if they are approved or not. This to me is an invasion of privacy sorely to produce profit for the CRA’s. There should never be a track of who a buyer visits to make purchases, or loans other than between them and respective party. Allowing information and negative scoring factors resulting from shopping is wrong. It undermines the economic system and prevents free enterprise in the United States. If all inquires were deleted from consumer files there would be substantial increases in credit scoring, greater trust among consumers in banking and retail shopping along with credit card services.
Not everyone will carry a perfect score and will continue to shop, however they will never get ahead as long as current scoring trends continue.