how to outsmart the credit bureaus
In a world of credit bureaus where the government doesn’t require you to disclose who you are and what you owe, it’s easy to go through your day and pretend you don’t have to pay attention to these things. But by doing so, you’re actually making it harder for yourself to get ahead.
The most important thing to remember is that the credit bureaus are not your friend. If you are not careful you will pay off debt in more than just one month. Many people use credit cards to pay for their bills and then only go to the credit bureaus to get a full credit report when they get a paycheck. Then they make it look as if they are not really paying attention to their finances. This is why so many people end up with credit problems.
Once you get your first credit report you will find out that many of the most expensive purchases you make are not actually paid off until after the fact. If you do not pay off any debts on time, the reporting agencies will automatically add a “negative” onto your report. This can then give you the misleading impression that you have no debt and are not taking on any more debt.
The credit bureaus are also quite concerned with the fact that in many cases, companies that do not pay their debts will actually be able to borrow money from the companies that do and then pay off the debts on the same day. They are trying to make this information easy to find, but in reality it is very difficult to find out if the companies that you owe money to are actually paying you back.