Credit Reporting Agency


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.

  1. Credit Rating

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  2. Regulation V

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  3. Credit Report

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

    A statistical analysis performed by lenders and financial institutions ...
  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. 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 >>
  2. How do banks measure the Five Cs of Credit?

    The five C's of credit is a valuable tool used by banks to determine a borrower's creditworthiness. Credit analysts developed ... Read Full Answer >>
  3. What is the difference between the Five Cs of Credit and credit rating?

    The five C's of credit comprise a list of factors used by lenders to predict the probability of a borrower defaulting on ... Read Full Answer >>
  4. How does it affect a company's credit rating to buy back shares?

    A stock buyback affects a company's credit rating when it uses debt to repurchase its own shares. Many companies prefer to ... Read Full Answer >>
  5. What is a good credit utilization ratio?

    Your credit utilization rate is a representation of the percentage of your current borrowing ability being used; basically ... Read Full Answer >>
  6. Do payday loans hurt my ability to get a mortgage?

    Payday loans and cash advances are short-term, low-balance, high-APR loans that are usually granted at usury rates. They ... Read Full Answer >>
  7. How is my credit score calculated?

    The credit score, commonly referred to as a FICO score, is a proprietary tool created by the Fair Isaac Corporation. This ... Read Full Answer >>

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