Credit Reporting Agencies

Organizations that maintain credit history records and make available to prospective lenders, insurers, landlords and employers (as well as to consumers themselves) reports that document the individual's past borrowing and repayment activity including information about late payments and bankruptcies. Information in credit reports is used to calculate credit scores (a numerical representation of the likelihood that a consumer will meet future financial obligations) which are used to determine the interest rate people receive on their mortgage, car loan, credit cards, auto insurance and other forms of credit.