There are three Credit Bureaus which collect credit data and now offering Credit Monitoring for consumers. The three credit bureaus are TransUnion, Equifax, and Experian which primarily make their money from selling credit reports big industries and companies. The credit bureaus are privately held billion dollar companies some are foreign owned.
The primarily source of revenue for the credit bureaus is coming from the sale of credit reports to big industries and companies. The credit bureaus do not verify the items placed on the credit report, it is easier to sell the credit report as is, than to verify the content. The profits are so great that they are willing pay fines each year to the government for failing to update credit files correctly.
It is interesting that these credit bureaus are now offering credit monitoring to consumers. The market always determines the need for new products and services. The news is constantly reporting security breaches into major credit and debit card databases. Identity theft is on the increase everyday which affect those individuals’ credit reports. Now the credit bureaus are offering credit monitoring services to consumers. Credit monitoring ads can be seen in newspapers, internet pop up ads and other social media promotions. This is a very important service and if you want more information regarding credit monitoring you can contact me. >>>>> Carl Blackstone Financial Empowerment Network