Credit grantors provide the bureau with information on how their credit customers pay their bills. The bureau assembles this information, along with public record information obtained from court houses around the country, into a file on each consumer. In return, credit grantors can obtain credit reports about consumers who wish to open accounts with them. There are over 1000 local and regional credit bureaus throughout the United States. These national agencies maintain centralized databases containing the credit records of more than 170-million consumers.
Credit bureaus generate over a half-billion credit reports a year.
In accordance with the written instruction of the consumer. To a person whom the bureau has reason to believe intends to use the report in connection with the extension of credit, or the review or collection of an account. Intends to use the report for insurance underwriting. Intends to use the report for determining the eligibility for a government license or benefit where the government agency is required to consider the consumer's financial status. Otherwise has a legitimate business need for the report in connection with a business transaction involving the consumer.