Loanfactz Definitions
Glossary of Legal Terms, Loan Terms and Home Construction, Repair and Maintenance Definitions. Some words have more than one meaning. Only those meanings relating to this site will be used.
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Credit Bureau
Credit Bureaus are companies that gather and sell the information in your * credit report. The information in your credit report that a credit bureau sells to creditors, employers, insurers, and other businesses is called a consumer report. This information is used to evaluate your applications for credit, insurance, employment, or renting a home. Credit Bureaus are also called consumer reporting agencies (CRAs). The 3 major credit bureaus are Equifax, Experian, and TransUnion. More about Credit Bureaus
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* Credit Report
A document used by the credit industry to examine an individual's use of credit. It provides information on money that individuals have borrowed from credit institutions and a history of payments. More about Credit Report
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