Credit Bureau
An agency collecting and distributing credit information on individuals or firms.
Detailed Description
Credit Bureau
What is the primary function of a credit bureau?
The primary function of a credit bureau is to collect and maintain consumer credit information to create credit reports that reflect an individual's credit history.
How do credit bureaus impact credit scores?
Credit bureaus impact credit scores by providing the data used to calculate them, including payment history and credit utilization.
What are the three major credit bureaus in the United States?
The three major credit bureaus in the United States are Equifax, Experian, and TransUnion.
What rights do consumers have regarding their credit information?
Consumers have rights such as accessing their credit reports for free once a year and disputing inaccurate information.
How can consumers obtain their credit report?
Consumers can obtain their credit report by visiting AnnualCreditReport.com, where they can request free reports from the three major credit bureaus once a year.