They sought information (often unreliably subjective) about a persons credit-worthiness, judged not just in terms of his financial circumstances, but his personal characterWas he married? Did he have children? Who were his parents? What church did he attend? Sometimes this information wandered into the deeply embarrassing: In 1854, a man sued Tappans Mercantile Agency for libel after a credit report claimed that he had left his wife for a prostitute. They were coming face to face with bureaucratic surveillance for the first timeone hundred years before the founding of the National Security Agency. No wonder that words like espionage and spying so frequently found themselves in proximity to contemporary press accounts of the bureaus. The whole proceeding bears upon its face the most diabolical jesuitism that has ever cursed the world, wrote one merchant .
Secondly, following a standard format also allows one to organize his report effectively and logically. The following credit rating agencies: Equifax: 1-800-525-6285; Experian: 1-888-397-3742, TransUnion: 1-800-680-7289 can send the report. As per law, every American citizen is entitled to get a credit report for free, once in twelve months. The institution can be a bank, a credit union, department store, or savings and loan associations. If you are self-employed, then the company takes into consideration the business that you are running, and the income projection of your business. All credit cards have a specified credit limit levied on them. Unused Credit: The portion of credit that is not used, or is still available to the customer. This rate in turn, is based on the interest rate at which banks carry out borrowing and lending of unsecured funds with other banks in the money market. Involuntary Bankruptcy: Sometimes, a petition for declaring an individual or business as bankrupt is filed by the credit granters instead of the borrower.