What does credit bureau mean?

Definitions for credit bureau
cred·it bu·reau

Here are all the possible meanings and translations of the word credit bureau.

Princeton's WordNet

  1. credit bureau(noun)

    a private firm that maintains consumer credit data files and provides credit information to authorized users for a fee

Freebase

  1. Credit bureau

    A credit bureau or consumer reporting agency, or credit reference agency is a company that collects information from various sources and provides consumer credit information on individual consumers for a variety of uses. It is an organization providing information on individuals' borrowing and bill-paying habits. Credit information such as a person’s previous loan performance is a powerful tool to predict his future behavior. Such credit information institutions reduce the effect of asymmetric information between borrowers and lenders, and alleviate problems of adverse selection and moral hazard. For example, adequate credit information could facilitate lenders in screening and monitoring borrowers as well as avoid giving loans to high risk individuals. This helps lenders assess credit worthiness, the ability to pay back a loan, and can affect the interest rate and other terms of a loan. Interest rates are not the same for everyone, but instead can be based on risk-based pricing, a form of price discrimination based on the different expected risks of different borrowers, as set out in their credit rating. Consumers with poor credit repayment histories or court adjudicated debt obligations like tax liens or bankruptcies will pay a higher annual interest rate than consumers who don't have these factors. Additionally, decision-makers in areas unrelated to consumer credit, including employment screening and underwriting of property and casualty insurance, increasingly depend on credit records, as studies have shown that such records have predictive value. At the same time, consumers also benefit from a good credit information system because it reduces the effect of credit monopoly from banks, and it provides incentives for borrowers to repay their loans on time.

How to pronounce credit bureau?

  1. Alex
    Alex
    US English
    Daniel
    Daniel
    British
    Karen
    Karen
    Australian
    Veena
    Veena
    Indian

How to say credit bureau in sign language?

  1. creditbureau

Numerology

  1. Chaldean Numerology

    The numerical value of credit bureau in Chaldean Numerology is: 5

  2. Pythagorean Numerology

    The numerical value of credit bureau in Pythagorean Numerology is: 1

Images & Illustrations of credit bureau

  1. credit bureaucredit bureaucredit bureaucredit bureaucredit bureau

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"credit bureau." Definitions.net. STANDS4 LLC, 2020. Web. 27 May 2020. <https://www.definitions.net/definition/credit+bureau>.

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