NEW YORK ( -- Credit reporting is a booming business. Agencies now sell data about how much you make, how much you owe, even predicting if you will take your medication. Taking care of what your credit report says about you should be a financial resolution for 2012.

Credit agencies are finding new ways to collect and assemble data on individual consumers. Credit reports can now reveal evictions, applications for payday loans -- even if you are behind on homeowner's association dues. Agencies analyze and sell this data to lenders, employers, insurers and renters who use these reports to make judgments about you.

Credit agency CoreLogic will soon provide credit files that dig deeper than the three traditional credit bureaus -- Experian, TransUnion and Equifax ( EFX - Get Report). According to The New York Times, this will include property tax liens, if more is owed on a house that it is worth or if someone is behind on homeowner's association dues. It may also include payment history for utility and cellphone bills. This data will be available inMarch for mortgage and home equity lenders, but it could eventually be developed for other types of credit such as credit cards. CoreLogic combines property and mortgage information; legal, parcel and geospatial data; motor vehicle records; criminal background records; national coverage eviction information; payday lending records; credit information; and tax records.

In February, Experian bought RentBureau, a credit bureau that allows apartment owners and managers to share rental payment history. These rental payment histories are now factored into Experian's consumer credit reports.

Having a good credit report means access to loans with lower interest rates, and lower interest rates translate into smaller monthly payments and keeping more money in your pocket. A good credit report can also help you qualify for a job, insurance or an apartment. A bad credit report can lead to higher interest rates, housing rejections and a more difficult job search.

As agencies add more information to credit reports, there is a greater chance for negative entries and black marks to show up on on your credit report. This additional data could be bad news for households that are already living on the edge and struggling to pay the bills each month.

Unfortunately, there is no loan officer to look at the whole story. Financial histories and futures could now be judged by algorithms.

-- Reported by Bill Hardekopf of

Bill Hardekopf is chief executive of, which compares and rates more than 1,000 credit cards. He is the co-author of "The Credit Card Guidebook."