Cryptocurrency Q&A
How do credit agencies get your information?
How do credit agencies get your information?
Elena
Tue Jan 21 2025
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5
answers
853
I'm curious about how credit agencies obtain personal information. I want to know the process behind it, like from where and how they collect data about individuals for credit reports.
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5 answers
FireFlyer
Thu Jan 23 2025
Credit bureaus acquire data from various sources related to an individual's financial activities.
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Isabella
Thu Jan 23 2025
One primary source of this information is creditors, which can include banks. These financial institutions provide details about loans and other financial products that an individual has taken out.
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benjamin_cole_nurse
Thu Jan 23 2025
Credit card issuers are another significant contributor to credit bureau reports. They share information about an individual's credit card usage, including payment history and credit limits.
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Margherita
Wed Jan 22 2025
Auto finance companies also play a role in populating credit bureau records. Details about car loans, including the amount borrowed and repayment status, are shared with credit bureaus.
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Leonardo
Wed Jan 22 2025
In addition to financial institutions, credit bureaus gather information from public records. This includes property records, which can reveal details about an individual's real estate holdings and any associated mortgages.
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