Credit agencies should not exist, period. They do not handle information responsibly, do not connect with you in a meaningful way to resolve issues, and knowingly put wrong information on your report.
My late mother and I shared the same first and last names and had different middle names. According to credit reporting agencies, my mother and I “had multiple social security numbers and name aliases.” I also apparently had a credit card at 4 years old (obviously it was my mom’s) and at one point these fools even listed me as married to my late father! Every time I tried to fix this nonsense, it was removed and added back in soon after. Extra fun fact: I have not been able to access my credit reports for years because of identity theft...all credit reporting agencies tell me I’m not me!
My mom and I shared a very unique name and there were literally only two of us in the world, yet this level of stupid happened and is ongoing. I shudder to think what happens to the John Smiths of the world.
So make credit agencies more accountable in any and every way possible but my preference is to get rid of them completely.