Credit Bureau

A credit bureau is a company that collects, stores, and maintains financial information about individuals’ borrowing and repayment habits. Lenders, such as banks and credit card companies, use this information to assess your creditworthiness when you apply for loans or credit. Your credit report includes details like your payment history, outstanding debts, and public records. By providing a comprehensive financial profile, the credit bureau helps lenders make informed decisions, and consumers can review their reports to ensure accuracy and understand their credit standing.