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credit bureau Definition

☆ credit bureau

credit bureau Finance Definition
An agency that collects information on the credit histories of consumers and businesses. A credit history includes a record of bill payments and whether payments have been late or missed. A credit history also includes information on bankruptcy or legal filings. Credit bureaus use different methods of credit scoring to rank borrowers and advise companies on whether credit should be granted. See also credit scoring.
credit bureau Usage Examples

Adjective modifier

  • private: Credit information exchange between banks often occurs through public and private credit bureaux.

Modifies a noun

  • report: All that is usually required is a credit bureau report and a look at your proof of income.

Noun used with modifier

  • reference: You can obtain a copy of your credit file by contacting one of the credit reference bureaux direct.