A Credit Bureau

Question

A Credit Bureau

Quizplus · Accepted Answer

A credit bureau contains information regarding your financial situation and dealings. It collects data from various sources, including lenders, credit card companies, and public records, to create a credit report that summarizes your credit history. This information is used by lenders and other creditors to make decisions about whether to issue credit and at what terms. A credit bureau does not make decisions about issuing credit, but rather provides information to help lenders make informed decisions. It also assigns a credit score, which is a numerical representation of your creditworthiness based on your credit history.