ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -A credit bureau collects and analyses individual credit information, which it then sells to debtors for a fee in order for them to make decisions about lending. The major three credit reporting agencies are Experian, Equifax, and TransUnion, but there are several more.

Detailed explanation-2: -The three main business credit bureaus in the U.S. are Dun & Bradstreet, Equifax and Experian. But there are other credit bureaus that collect and sell information about businesses, including Creditsafe, LexisNexis Risk Solutions and specialty credit agencies.

Detailed explanation-3: -A credit bureau, also known in the U.S. as a credit reporting agency, is an organization that collects and researches individual credit information and sells it to creditors for a fee, so they can make decisions about extending credit or granting loans.

Detailed explanation-4: -Credit reporting bureau is another name for a credit reporting agency.

Detailed explanation-5: -Credit bureaus act as information brokers for individual consumer credit histories. They sell their services to banks, mortgage lenders, credit card companies, retailers, and other businesses that grant credit.