What is a Credit Bureau?

Also referred to as a “consumer reporting agency,” a credit bureau collects and sells information about the creditworthiness of individuals. A credit bureau consider’s a person’s spending habits and history and assigns them a credit score that can change over time. Credit bureaus do not have the authority to grant or deny credit, but will sell a credit report to creditors deciding whether or not to extend credit to prospective applicants. The three main credit bureaus for the U.S. are Experian, TransUnion and Equifax.


See Also:

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How I Ditched My Debt For Good

Your DIY Financial Planning Guide

FICOlogy: Credit Scores and You 

Take Back Your Credit 

Whip Your Credit Into Shape 

Your Credit Score vs. the Lenders’ 

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