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credit bureau Definition

☆ credit bureau

noun

an agency that is a clearinghouse for information on the credit rating of individuals or firms

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.