Credit bureaus play a role in a lender's decision to extend credit or a service provider's decision to provide access to post-paid services. Credit bureaus provide information about an applicant's credit profile to credit providers and service providers. Credit providers and some service providers use this information as part of their decision process. This information, combined with their business rules and an affordability check, determines whether a loan or access to services is approved or declined and may even impact the pricing of the service.
You can request yours through AnnualCreditReport.com, the only free credit report website authorized by the federal government. Make sure to check your reports from all three bureaus since each one can include different information from creditors and lenders.
This is an exercise performed by many consumers, to check whether they are in right standing with their credit. The purpose of the credit bureaux is to not only keep a record of your credit activity but to also provide you with a copy of your credit report, something that many consumers unfortunately are still not aware of. During our consumer awareness campaigns with other financial Ombuds, government departments and regulatory bodies, the Credit Ombud came across several credit active consumers who did not know what a credit bureau is, what they do and how they can get a hold of them. 59ce067264