Credit Bureau

AAA

DEFINITION of 'Credit Bureau'

An agency that researches and collects individual credit information and sells it for a fee to creditors so they can make a decision on granting loans. Typical clients include banks, mortgage lenders, credit card companies and other financing companies. Also commonly referred to as consumer reporting agency or credit reporting agency.

INVESTOPEDIA EXPLAINS 'Credit Bureau'

A credit bureau doesn't decide whether an individual qualifies for credit or not. It only collects information that it considers relevant to a person's credit history and habits.

The three main credit bureaus in the United States are Equifax, Experian and TransUnion.

RELATED TERMS
  1. Credit Reference

    A credit reference can be a report from a credit agency for either ...
  2. Friendly Loan

    A loan agreement between associates. This type of loan is known ...
  3. Credit Report

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

    An entity (person or institution) that extends credit by giving ...
  5. Credit

    1. A contractual agreement in which a borrower receives something ...
  6. Line Of Credit - LOC

    An arrangement between a financial institution, usually a bank, ...
RELATED FAQS
  1. Will a debt settlement program affect my credit score?

    Understand the impact of negotiating debt settlements on your credit score, and learn what factors determine the size of ...
  2. What are some examples of good situations in which to use revolving credit?

    Learn how to use revolving credit responsibly, and find out how to avoid major credit problems with your revolving credit ...
  3. How do secured credit cards help me build my credit score?

    Find out how secured credit cards function and why they can be very useful for those looking to build or rebuild their credit ...
  4. What’s the difference between a consumer disclosure and a credit report?

    Find out why consumer disclosures and credit reports are considered different documents, even though they contain similar ...
  5. What are the differences between the three national credit bureaus?

    Read about the main differences between Equifax, Experian and TransUnion. Learn why your credit scores and credit reports ...
  6. How long does information stay on my credit report?

    Understand how long different types of information stay on your individual or business credit report according to the rules ...
  7. Can a debt collector contact me about a debt that's no longer on my credit report?

    Learn about the circumstances that allow a debt collector to contact a consumer about a past due debt that is not on a credit ...
  8. Do unpaid medical bills appear on my credit report?

    Find out if an unpaid medical bill can be reported to a credit bureau, if it affects your credit score and when it is turned ...
  9. Why are there three national credit bureaus?

    Discover why "big three" credit bureaus Experian, TransUnion and Equifax dominate the credit reporting market and how they ...
  10. How often is my credit score updated?

    Discover how often credit bureaus update credit scores, change credit information and receive updates from lending agencies ...
  11. How can I increase my FICO score?

    Find out about a few simple, consistent ways to improve your credit score, including how to manage your credit card balances ...
  12. Do I need to know all three of my credit scores?

    Find out why it is important to know all three of your credit scores and how these scores can affect credit approvals for ...
  13. When does the statute of limitations clock start on my debts?

    Learn how states treat statutes of limitation on consumer debts, and find out what it means if the statute of limitations ...
  14. Why don't I have a credit score?

    Learn about some of the reasons why you might not have a credit score, and find out how you can build a good credit score ...
  15. Will using an overdraft hurt my credit score?

    Find out if overdrafting a bank account hurts a credit score, how reporting is handled and if a consumer is able to dispute ...
  16. 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 ...
Related Articles
  1. Insurance

    Identity Theft: How To Avoid It

    Don't be a victim of this disturbing crime. Get insight into how perpetrators commit this form of fraud.
  2. Credit & Loans

    5 Keys To Unlocking A Better Credit Score

    Follow these tips and techniques to rebuild a ruined credit rating.
  3. Credit & Loans

    The Importance Of Your Credit Rating

    A great starting point for learning what a credit score is, how it is calculated and why it is so important.
  4. Credit & Loans

    Check Your Credit Report

    Make sure there are no errors holding you back from obtaining a loan.
  5. Credit & Loans

    How To Dispute Errors On Your Credit Report

    It just takes some time and effort to rebound from a nasty case of "credit rejection shock."
  6. Insurance

    Your Financial Life: From Stressful To Stress-Free

    Find out how to get the ball rolling on your future financial security. Then sit back and watch things unfold.
  7. Credit & Loans

    Identity Theft: Who To Call For Help

    If your identity is stolen, it's critical to act fast. Find out what to do if it happens.
  8. Personal Finance

    Looking To Clear Up Your Credit Report?

    If you look at your credit report you might see any number of various items that are harmful to your credit score, but you can learn how to remove them.
  9. Personal Finance

    How To Find A Job With Poor Credit?

    It's not legal for an employer to refuse to hire you for having bad credit, but he doesn't have to say that you weren't hired because of your bankruptcy.
  10. Credit & Loans

    5 Top Credit Karma Tools To Keep Your Credit High

    As if the free, no-strings credit checkup weren't enough, this site also gives you personalized feedback to make you a better money manager.

You May Also Like

Hot Definitions
  1. Technical Skills

    1. The knowledge and abilities needed to accomplish mathematical, engineering, scientific or computer-related duties, as ...
  2. Prepaid Expense

    A type of asset that arises on a balance sheet as a result of business making payments for goods and services to be received ...
  3. Gordon Growth Model

    A model for determining the intrinsic value of a stock, based on a future series of dividends that grow at a constant rate. ...
  4. Cost Accounting

    A type of accounting process that aims to capture a company's costs of production by assessing the input costs of each step ...
  5. Law Of Supply

    A microeconomic law stating that, all other factors being equal, as the price of a good or service increases, the quantity ...
  6. Investment Grade

    A rating that indicates that a municipal or corporate bond has a relatively low risk of default. Bond rating firms, such ...
Trading Center