Credit Bureau

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What is a Credit Bureau?

We can define a credit bureau as a company or organization that catalogs, organizes, and sells credit information or information pertaining to the payment behaviors of consumers. These organizations also issue credit reports with related information.

Note that financial companies, such as banks, purchase this information as it helps them determine the credit risk profile of their customers as well as make informed decisions regarding extending them credit. There are three main national credit bureaus in the US; these are Equifax, Experian, and TransUnion.

Examples of Credit Bureaus

  • Example 1: Experian
  • Example 2: Equifax

Here’s Investopedia’s definition of a credit bureau.

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ContractsCounsel is not a law firm, and this post should not be considered and does not contain legal advice. To ensure the information and advice in this post are correct, sufficient, and appropriate for your situation, please consult a licensed attorney. Also, using or accessing ContractsCounsel's site does not create an attorney-client relationship between you and ContractsCounsel.


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