Credit Reference


DEFINITION of 'Credit Reference'

A credit reference can be a report from a credit agency for either a business or an individual. The term can also be used to mean a letter from a bank or other financial institution with whom a company has done business, confirming to third party that the company or individual is known to the financial firm as a good client.

BREAKING DOWN 'Credit Reference'

Credit references are generally used to determine the creditworthiness of a person or individual. Credit agencies are used most often for this purpose, although individual letters of reference are sometimes necessary. For example, an overseas business wishing to establish its credentials in the United States may obtain a number of credit references from other businesses, banks, vendors and customers.

  1. Credit Rating

    An assessment of the credit worthiness of a borrower in general ...
  2. Dun & Bradstreet - D&B

    A company that provides commercial credit information and reports ...
  3. Credit Report

    A detailed report of an individual's credit history prepared ...
  4. Credit Score

    A statistically derived numeric expression of a person's creditworthiness ...
  5. Credit Bureau

    An agency that researches and collects individual credit information ...
  6. Credit Union

    Member-owned financial co-operative. These institutions are created ...
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  1. Do free credit reports affect your credit score?

    Free credit reports do not impact your credit score. Credit inquiries are divided into two categories: soft inquiries and ... Read Full Answer >>
  2. Is getting a free credit report safe?

    Getting a free credit report can be safe if you are careful about the particular website from which you get it. Credit reports ... Read Full Answer >>
  3. How accurate are free credit reports?

    Free credit reports are usually considered mostly accurate, which is why it is important to regularly examine your own reports. ... Read Full Answer >>
  4. Does the IRS report to credit bureaus?

    The Internal Revenue Service (IRS) doesn't report overdue tax debt to credit bureaus. Federal law protects the privacy of ... Read Full Answer >>
  5. Can Sallie Mae report you to a credit bureau?

    A credit bureau, referred to primarily in the United States as a consumer reporting agency (CRA), is an entity that gathers ... Read Full Answer >>
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    It is possible to tell if a security is considered to be investment grade by looking at that security's ratings with either ... Read Full Answer >>

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