Credit bureaus maintain credit histories on individuals based on information reported to them by banks,mortgage companies,department stores,and other creditors.

Question

Quizplus · Accepted Answer

This statement is true. Credit bureaus such as Equifax, Experian, and TransUnion collect and maintain credit information provided by various sources. This information is used to create credit reports and scores, which are used by lenders to make decisions about whether to extend credit to an individual.

Credit Bureaus Maintain Credit Histories on Individuals Based on Information