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What do credit bureaus do?

Credit bureaus store the credit history of consumers. They get this information from the consumers' previous creditors. These sources include credit card companies, banks, the IRS, and anyone else who extends credit. Credit bureaus generally release the following information: Your open accounts their limits, their current balances, and the number of late payments to each account. They also show any type of collections that have occurred on your accounts as well as any tax liens. Creditors use this information to determine if a consumer is credit worthy.




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