A credit bureau report is an integral part of the underwriting process of financial institutions when evaluating whether a potential borrower is a good credit risk or not. Most consumers do not understand what is reported on a credit bureau, let alone, when they actually view their own credit report what all the information and acronyms mean.
The credit bureau report contains information about your address and employment, credit inquiries, present borrowing and repayment history. The information is utilized to properly calculate Gross and Total Debt Service ratios, and will impact on which lenders will accept an application.
To find out where you stand in the eyes of the credit bureaus, please visit the “links” page and receive an online credit report through either the Equifax or TransUnion links.
