Credit Bureaus: How They Can Help You

In experian credit bureau of Editor (January 3, 2009 3:00 am)

Credit reporting agencies are set up to gather financial facts and present them in an organized fashion. They collect information from various banks, mortgage companies, department stores and other creditors about credit accounts and compile it into a credit report for all the working population. This report is used largely to determine further lending and rates on interests on loans/credit cards. The credit agencies do not make any lending decisions themselves. They just give preliminary data based on which the financial agencies like banks, credit unions take decisions.

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