DEFINITION of 'Credit Review'

A credit review refers to the periodic reviews conducted by creditors on their customers with outstanding loans or credit lines. It can also refer to the service provided by credit repair firms as a preliminary step in assisting those with financing or debt problems.

BREAKING DOWN 'Credit Review'

Extensions of credit by financial institutions are monitored and reviewed periodically to make sure the original credit facility was extended in accordance with proper procedure and to make sure the credit worthiness of the borrower has not deteriorated. Credit reviews conducted by consumer credit repair businesses are the first step in determining what will be involved in helping someone with financial problems.

RELATED TERMS
  1. Credit Rating

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  2. Credit Repair

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  3. Available Credit

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