Consumer Credit File

You have a credit card so that you can buy those amazing products you see on your television at 4 am. You have an auto loan so that you can drive to that sweet job working for the guy who spends all his time on the golf course. And your mortgage will eventually be paid off after 30 years.

All of those debts are listed on your consumer credit file. Credit agencies keep track of every dollar you spend...yet, for some reason, that’s not a perverse violation of your private data, and no one seems to care when they get hacked and lose all of your data.

This credit file is used by other lenders to decide if they'll loan you money, what rate you would pay, and the time periods that you'd have to pay off said loans.