Credit Bureau Basics

Credibility counts. And no one knows it better then the credit bureaus. These are the places where you can get a rating to certify your creditworthiness. And of course they charge you for it. The approach is simple enough. They keep an eye on the credit transaction that a person enters into and then its repayment. The banks and credit card companies use this information before striking a business with an individual. Credit bureaus are not watchdogs. They are just observers who want to know if a borrower is respecting the borrowed monies. They have to keep a track of how borrowed money is used. Trans Union, Equifax etc. are some of USA