In a recent comment post a reader posed some questions which I thought would benefit more readers as an article. So here goes…
Q) What do credit grantors use credit bureau reports for when you apply for credit?
A) When you apply for credit, the credit grantor uses your credit report to verify your identity as well as to assess their risk.
Q) What information is supplied to the credit bureau?
A) when ever an inquiry is made on your credit report a reason for enquiry is supplied by the credit grantor, the credit bureau also records that an enquiry was made and the credit provider in question. This information is shown on your credit report under the enquiry history section.
Q) Are all inquiries recorded by credit bureaus?
A) Not all enquiries are recorded by credit bureaus. Inquiries for forensic purposes are hidden, naturally.
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