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 Says:
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 Trans Union. Related Terms:
Credit
Credit Report
Credit Score
Credit Scoring
Creditor
Line of Credit
Mortgage
National Credit Union Administration - NCUA |