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A credit report is a record of the borrower's credit history from a number of sources, including banks, credit card companies, collection agencies, and governments. [2] A borrower's credit score is the result of a mathematical algorithm applied to a credit report and other sources of information to predict future delinquency.
A credit bureau is a data collection agency that gathers account information from various creditors and provides that information to a consumer reporting agency in the United States, a credit reference agency in the United Kingdom, a credit reporting body in Australia, a credit information company (CIC) in India, a Special Accessing Entity in the Philippines, and also to private lenders. [1]
A credit reference is information, the name of an individual, or the name of an organization that can provide details about an individual's past track record with credit. Credit rating agencies provide credit references for companies while credit bureaus provide credit references for individuals .
A credit score is a number that provides a comparative estimate of an individual's creditworthiness based on an analysis of their credit report. [1] It is an inexpensive and main alternative to other forms of consumer loan underwriting.
The following information can help you better understand the details of your credit card account and track your credit history: Credit limit Your credit limit is the amount of credit you’re ...
A credit score is a numerical expression based on a level analysis of a person's credit files, to represent the creditworthiness of an individual. [1] A credit score is primarily based on a credit report, information typically sourced from credit bureaus.