Credit Ratings Protect Creditcard Companies

Think about it. We fret over our credit rating, and even strategize on how to make our credit rating as high as possible. When you really get into this, you discover that the credit bureaus don't work for a government agency, aren't interested in consumer protection, and in effect will ignore everything you tell them unless the law requires a response. Even then their response is nothing more than what is legally required.

The credit bureaus work for the banking industry. Those are the customers that pay their bills. The information found in your credit report is going to be slanted, if at all possible, to allow the bank to charge you higher interest. The mistakes on credit reports are to their benefit, and they could care less if they are errors. Correcting your errors takes aggressive and highly motivated action on your part before they are corrected, unless you are lucky, or a celebrity, or special VIP flagged by the bureau.

Those who use credit reports to determine the credit worthiness of a potential renter or otherwise judge the character of an individual - remember this. Credit reports are inaccurate.