major credit bureaus

Major credit bureaus are organizations that collect and maintain detailed information about your borrowing and repayment history, including loans, credit cards, and payment habits. These bureaus—such as Equifax, Experian, and TransUnion—generate credit reports and scores that lenders use to assess your creditworthiness. Your credit report provides a snapshot of your financial behavior, helping lenders decide whether to approve loans or credit, and at what interest rate. Maintaining good credit habits can positively influence your credit report and score, making it easier and more affordable to access credit when needed.