Why Do You Need The Bank To Report Your Payment History To The Three Bureaus? How Is It Good For You?

why do you need the bank to report your payment history to the three bureaus? how is it good for you?

 

For me, it is necessary to report all payment transactions made by individual person. All payment reports made by the bank will be automatically documented by the three bureaus as this is the basis of how on time is the payment, how delinquent is the payment. All accumulated records are useful as this will be their guide to determine if a person is qualified for another credit not.