If inaccurate information made its way into the blockchain, how could it be removed?
At least credit agencies can remove inaccurate information from your report. They don't make it easy, but they can do it. In a blockchain, how would that be possible?
Just because something is immutable doesn't mean you can't amend an old record to flag it as inaccurate / irrelevant / outdated.
That said, I don't know how I feel about replacing credit bureaus with a distributed database. The issue still revolves around verifying identity and reputation. The blockchain doesn't solve identity. Perhaps it could solve the reputation problem... of a cryptocurrency wallet. How does a merchant know that their current customer doesn't just burn the reputation of a wallet and create another wallet?
I see BitCoin has being a masterful synergy of several existing algorithms and theories. But it's a lot like a 4-legged chair. I've yet to hear a great use of blockchain (other than a cryptocurrency) which supports the chair with all 4 legs. Some proposals would be better served as just a distributed database, others don't benefit at all from being distributed. Some simply don't have an incentive for miners to spend on the electricity needed for Proof of Work and will inevitably suffer from one company consolidating a majority of the network -- thereby compromising the value of the consensus algorithm.
At least credit agencies can remove inaccurate information from your report. They don't make it easy, but they can do it. In a blockchain, how would that be possible?