The 4th Credit Bureau: The Other Credit Score You Didn’t Know About

 

 

 

 

 

 

 

 

You probably are very familiar with the 3 major credit bureaus that are responsible for your ever-important credit score and report. These bureaus track and report your financial history by payments you make on loans. But did you know that there was a “4th credit bureau” that now has the ability to track your other debts?

Here’s what we found out on America Now:

“Basically a lot of transactions that aren’t traditional loans so to speak are showing up in these fourth bureau agency reports,” says John Brumbaugh, of ClearPoint Credit Counseling Solutions, and he says clients are shocked when they learn a long list of agencies (“it’s a bunch of different companies that do it,” says Brumbaugh) collectively nicknamed the 4th bureau are now tracking when and how people pay for even the small things in their lives.

“Anything from your gym membership, your magazine subscriptions, your cable bill, your utility bill,” Brumbaugh says. “It can cost you money, and it can come back to haunt you.”

These days, there are all sorts of companies seeking 4th bureau information about you, from banks to utility providers to landlords.

Moral of the story? Every bill counts, and all of your financial habits matter when it comes to your credit score.

Thanks to America Now for the heads up on this!