|
|  |  | Glossary |
| | | | | | | Credit reporting agencies (credit bureaus)skip to next word | | Credit reporting agencies (credit bureaus) are basically clearinghouses for information about consumers' credit. When you apply for credit, they provide this information to qualified requestors. There are 3 main credit bureaus: Equifax Inc.®, based in Atlanta, Georgia; Experian®, based in Allen, Texas; and TransunionSM, based in Springfield, Pennsylvania. | | | | Copyright 2009© Intersections Inc. | | Credit scoreskip to next word | | A credit score, calculated from variables in your credit report and other factors determined by the lending institution, is a rating tool used by lenders to gauge an individual's creditworthiness. | | | | Copyright 2009© Intersections Inc. | | | | | | | | | Identity theftskip to next word | | Identity theft is a crime where a criminal acquires and uses the victims' personal information, such as Social Security or driver's license numbers to take out loans, obtain new credit cards, charge on an existing account that has available credit, rent an apartment, buy a car, file for bankruptcy, as well as other criminal activities. Identity theft can not only damage someone's creditworthiness, it can also create unknown criminal records that can result in the identity theft victim being wrongly arrested or denied employment after a routine background check. | | | | Copyright 2009© Intersections Inc. | | | | |
| | |
