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WordNet-Online
Definitions from WordNet | ||||
Definitions from the WebCredit BureauA Credit Bureau is an organization that collects and maintains credit information on individuals and businesses. It compiles data related to individuals' financial behaviors, credit history, and payment activities. Sense 1: Financial InstitutionNoun: A credit bureau in this sense refers to a financial institution that is responsible for gathering and storing credit-related information of individuals and companies. Example sentence: I need to check my credit report, so I will contact the credit bureau to obtain a copy. Sense 2: Data RepositoryNoun: Also referred to as credit reporting agencies, credit bureaus serve as data repositories where creditors report their customers' financial information and credit activities. Example sentence: Banks and lenders send regular updates to various credit bureaus to ensure accurate credit reporting. Sense 3: Credit CheckNoun: Credit bureaus are often utilized by lenders to conduct credit checks on loan applicants, aiming to assess their creditworthiness and make informed decisions regarding lending. Example sentence: Before approving your mortgage application, the bank will request a credit report from one or more credit bureaus. Sense 4: Credit MonitoringNoun: Credit bureaus offer credit monitoring services, providing individuals with access to their credit reports, alerts on changes in their credit file, and protection against identity theft. Example sentence: To stay informed about my credit status, I subscribed to a credit bureau's credit monitoring service. Sense 5: Credit ScoreNoun: Credit bureaus calculate credit scores based on the information within an individual's credit report. Credit scores are used by lenders to evaluate creditworthiness. Example sentence: His low credit score made it challenging for him to secure a loan from the bank. Sense 6: Credit ReportingNoun: Credit bureaus are responsible for providing credit reports to individuals upon request and distributing credit information to authorized parties who require accurate financial information. Example sentence: Amy had to dispute an error on her credit report by contacting the credit bureau directly. Related products: Credit Bureau Reports, Credit Monitoring Services, Credit Score Books | ||||
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