bureaus
When do credit card companies report to credit bureaus?
While keeping an eye on your credit, you may have realized that a decline in your credit card balance will generally not immediately affect your credit, nor will any growing balances on your credit cards. Not having a bill change soon after paying off your credit card balance can be frustrating if you’re trying to […]
What credit bureaus do issuers use to get your loan?
Almost every time you apply for a credit card, the card issuer will carefully review your credit report to check your creditworthiness. The only exception is credit cards with preferential charges, which are very few. In either case, the card issuer may request your credit report from any or all of the three major credit […]
3 national credit bureaus: how Equifax, Experian and TransUnion work
Credit bureaus, also known as credit information agencies, play an important role in today’s world. Their main function is to help lenders make objective and accurate decisions about potential clients. To this end, these independent commercial companies collect people’s credit and debt activity and then create reports that can be accessed by financial institutions and […]
Credit bureaus will stop counting medical debts
Medical debt, away! Something like. The three major credit bureaus in the US – Experian, TransUnion and Equifax – announced that almost all medical debt (about 70%) will be removed from credit reports this summer. Earlier this year, The Consumer Financial Protection Bureau (CFPB) found that medical debt is the most common form of debt […]