DEFINITION of 'Credit Reporting Agency'

This term refers to businesses that maintain historical information pertaining to credit experience on individuals or businesses. The data are collected from various sources, most commonly firms extending credit such as credit card companies, banks and credit unions. They also collect information from public records, such as bankruptcies.

BREAKING DOWN 'Credit Reporting Agency'

Credit reporting agencies are generally one of two types: reporting either on individuals or on businesses. The largest consumer credit reporting agencies are Experian, Equifax and TransUnion. Experian also does commercial reporting, along with Dun & Bradstreet.

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