Credit Agency

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Dictionary Says

Definition of 'Credit Agency'

A for-profit company that collects information about individuals' and businesses' debts, and assigns a numerical value called a credit score that indicates the borrower's creditworthiness.

Creditors and lenders, such as credit card companies and banks, report their customers' borrowing activity and history to credit agencies. Individuals and businesses can obtain copies of the information reported about them by contacting the credit agency or a related third-party company, and paying a nominal fee.
Investopedia Says

Investopedia explains 'Credit Agency'

The information provided to credit agencies includes how much credit is available to that borrower, how much of the available credit they have used, and what their repayment activity looks like. Credit agencies help potential lenders and creditors determine whether to lend or extend credit to an individual or business, by predicting the likelihood that the borrower will repay the debt in a timely manner.

Related Definitions

Search results for

'Credit Agency'

  • Spotting Credit-Repair Scams

    http://www.investopedia.com/articles/pf/09/spot-credit-repair-scams.asp
    ... on for 10 years. If a credit agency states they can have this type of item
    removed, it is only temporary. The creditor will place ...

  • Check Your Credit Report

    http://www.investopedia.com/articles/pf/07/credit-report.asp
    ... inaccurate such as the spelling of the individual's name or address, a person should
    present the credit agency with written proofs as soon as possible. ...

  • Consumer Credit Report: What's On It

    http://www.investopedia.com/articles/04/122304.asp
    ... impact your credit report. The fifth section details any accounts that
    have been turned over to a credit agency. If you failed to ...

  • 5 Keys To Unlocking A Better Credit Score

    http://www.investopedia.com/articles/pf/07/credit-rebuilding.asp
    ... In these instances your first recourse should be to contact the credit agency
    and request they make the appropriate changes. Fibbers ...

  • What Is A Credit Score?

    http://www.investopedia.com/video/play/what-is-a-credit-score
    Videos /. What Is A Credit Score? ... 7 Tips For Closing A Credit Card. Closing a credit
    card can help improve your credit score by freeing up your available ... ...

  • How To Find A Credit Counselor

    http://www.investopedia.com/articles/basics/07/find-credit-help.asp
    ... a Debt Management Plan Once you've chosen a qualified credit counseling agency,
    you will be asked to provide information about your income, expenses and debts. ...

  • Credit And Debt Management: Credit Counseling | Investopedia

    http://www.investopedia.com/university/credit-debt-management/management7.asp
    ... Counseling A credit counseling agency helps the client identify his or her creditors
    and assess the debts due and the monthly payments they are committed to. ...

  • Retirement Planning For 30-Somethings: Managing Your Credit Score ...

    http://www.investopedia.com/university/retirement-30/retirement-306.asp
    ... You should also check your credit at least once per year. You are eligible for at
    least one free credit report for each credit agency for the year. ...

  • A Brief History Of Credit Rating Agencies

    http://www.investopedia.com/articles/bonds/09/history-credit-rating-agencies.asp
    ... Credit Rating?). Conclusion Investors may utilize information from a single agency
    or from multiple rating agencies. Investors expect credit rating agencies to ...

  • Dawn Of The Zombie Debt

    http://www.investopedia.com/articles/pf/06/zombie-debt.asp
    ... yours. Watch your credit report to make sure zombie debt collectors
    don't illegally report the debt to a credit agency. If they ...

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