Kitchens by Riland

Credit card bureaus are national credit reference agencies charged with the responsibility of collecting, collating, and providing credit card user information for all credit card holders. Credit card bureaus are mandated to collect information from individual credit holders where possible, those with whom the credit card holder does business and from public sources like courts. Credit card bureaus concern themselves strictly with issues pertaining to borrowing and payment of credit. They do not keep criminal records unless this touches on borrowing and payments using credit cards. They similarly do not capture cash purchases and payments but capture such information as payment of utility bills, court payment rulings or orders and bankruptcy suits among others.

Credit bureaus are required to collect the above information from credit card lenders who are in a better position to report whether their debtor is paying and whether well or poorly. Public utility service providers are expected to furnish the credit bureaus with information concerning payment of such utility bills. Courts also furnish the credit bureaus with all information concerning court actions against a credit card holder involving credit card use or tax evasions.

The credit card bureaus are required to keep full personal information of every credit card holder including their names, date of birth, social security number, current as well as previous employers, current as well as previous addresses, and spouses name. Much of this information is obtained from the credit report request forms credit card holders provide when applying for credit cards, auto loans, or mortgage loans. The credit bureaus are required to provide every credit card holder a free copy of their credit report on an annual basis. This is meant to facilitate credit card holders to access their credit reports, to be familiar with the contents, and to determine if the report is accurate. The credit report is also meant to enable credit card holders detect any fraudulent activity that may involve the use of their identity or credit cards that may not be known to them.

Credit bureaus are required to keep this information and to provide it on request by authorized users in a format that is accepted for credit reporting. This information is used to monitor credit card holders remotely and get them to appreciate that whether one does good or bad with their credit card it will come back either to haunt or help them. The information is used to determine credit holders’ creditworthiness.