Is it legal for creditors to report to all 3 credit bureaus?

Answer 1

Yes it is. And, if you would be more responsible, and only buy what you can afford, or at least pay your debts, you wouldn't have to worry about it.


Long Live Jambi

Answer 2

yes, based on experience from viewing my own credit report, credit bureaus obtain them when credit is applied for. The creditors you apply to, that data gets reported to one of the 3 bureaus first than a few weeks or months later the other 2 get reported and all 3 show up.

When you apply for credit its based on all three scores and the middle score is the one they take. So if you have 650 578 600 then they would take 578. But its not illegal they are just going by rules and regulations.

Answer 3

Yes, this is how you get reports from all three bureaus, it is within their right to do this. But it is nothing bad against you, it's just starting your credit history.

Answer 4

Yes ...it is up to them how many bureaus they report to. They pay more to report to all 3.

Here is some additional info. Hope this helps.

Answer 5

Yes it is. In fact, Sallie Mae financial services which issues student loans got into trouble for only reporting to one agency since they were actually hurting people's scores (the ones who pay one time) instead helping those people's credit score.

Answer 6

Yes.

Answer 7

Yes, it is. That's within their rights. It's up to you to make sure the information reported is accurate.

Answer 8

Yes it is.

Answer 9

Yes..........They always do even if it wasn't legal!