How Does Debit Report Effect You?

Few consumers are aware that there are companies tracking all of their personal financial transactions – bankruptcies, credit cards, installment loans, mortgages and judgments. On the other hand, unless you were raised in a cave you've heard of a credit report and most likely understand that it's a record of all of your purchases. Credit reports are primarily assembled by three credit bureaus (Equifax, TransUnion and Experian) which is then available upon request from most lenders, mortgage brokers or credit bureaus. Credit reports tell these businesses, in summarized form, how an individual has handled credit in the past and is the primary tool being used to decide whether or not they are worthy of being granted more credit in the form of a loan or additional credit cards. However, what people don't realize is that there is a company that keeps track of the banking transactions of American consumers but unlike credit reports, that information is available only to banks in the form of a debit report. You may
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