ECONOMICS
CREDIT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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bank
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credit board
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credit bureau
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none of these
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Detailed explanation-1: -The credit bureaus collect all of the payment history information for a single consumer as reported by all of that consumer’s various creditors. Then the credit bureaus compile the consumer’s payment history information into a file.
Detailed explanation-2: -A credit bureau collects and researches individual credit information and sells it to creditors for a fee, so they can make decisions about granting loans. The top three credit bureaus in the U.S. are Experian, Equifax, and TransUnion, although there are several others as well.
Detailed explanation-3: -FICO ® Scores are the most widely used credit scores-90% of top lenders use FICO ® Scores. Every year, lenders access billions of FICO ® Scores to help them understand people’s credit risk and make better–informed lending decisions.
Detailed explanation-4: -Credit report Three of the largest consumer reporting agencies that provide consumer credit reports are Equifax, Experian, and TransUnion, while business credit reports are provided by business credit bureaus, such as Dun & Bradstreet, Experian Commercial, and Equifax Small Business.