Where Do Credit Reports Come From?

Credit reports come from consumer reporting agencies (CRAs) that gather credit information, storing it on massive databases. The CRAs then charge a fee for supplying the information to those who want to evaluate your applications for credit, insurance, employment or renting an apartment (or home).

The most common type of credit reporting agency is called a credit bureau.

In the  U.S., there are credit bureaus that serve local markets as well as three major credit bureaus that operate nationwide.

If you’re outside of the United States, contact your government’s consumer advocacy group for a list of credit agencies.

Where Do the Consumer Reporting Agencies Get Your Information?

Credit bureaus collect and compile information from entities that have previously extended credit to you.  Examples are:

• a department store that issued you a revolving line of credit
• a bank that has granted you a personal loan
• a lender who has granted you a mortgage or student loan
• a utility or telephone company that has given you an account

Who Is Allowed to Request Your Credit Report?

Credit bureaus are allowed to provide information only to the following credit report requestors:

• You
• creditors who are considering granting or have granted you credit
• employers considering you for employment or promotion
• insurers considering you for an insurance policy or reviewing an existing policy
• government agencies reviewing your financial status or government benefits
• anyone else with a legitimate business need for the information, such as a potential landlord.

Credit bureaus also furnish credit reports to a third party, upon YOUR request in writing or if required by court orders or federal jury subpoenas.

See your credit score on FreeCreditReport.com Ordering a copy of your credit report is a snap! 

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