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The great credit report myth

What is it with "credit reports" that these mysterious organisations called "credit reference agencies" feel they have the automatic right to hold on every citizen?
Who/what gives them this right in the 1st place?
Do they not think of asking for citizens permission to hold all this information 1st or is it something that big business thinks it has a god given right to do?

Comments

  • Ames
    Ames Posts: 18,459 Forumite
    They do ask your permission, whenever you sign a financial contract there's a clause that says they can share info with credit reference agencies and that you agree to a check.
    Unless I say otherwise 'you' means the general you not you specifically.
  • DGJsaver
    DGJsaver Posts: 2,777 Forumite
    which in turn is capitalism at work
This discussion has been closed.
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