A Credit bureau is a private business which acquires, records, maintains and makes available to contracted subscribers, information concerning the manner in which consumers conduct their credit and business dealings.

Everyone who has ever applied for credit is listed with the credit bureau. When you apply for credit with a company that subscribes to a credit bureau, that company will have access to your credit history, which is provided by the credit bureau. The company can then make an informed decision and assess their risk in granting you the said credit. Most companies will not grant credit to individuals who have negative listings.

Every person can obtain a copy of your credit report free of charge from a credit bureau Once a year in the month of your birth date.

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