How is information gathered for my
credit file & how is it used?
Credit providers gather information about the consumer who has applied
for credit from their institution and report it to the credit bureau or
credit-reporting agency. This information includes the credit accounts
that have been opened along with the payment patterns of the consumer.
The credit bureaus in turn store and maintain this information for use
by their members. Information can also be taken from public records or
from correspondence between the credit bureau and you, the consumer.
The information gathered allows creditors to make sound decisions based
on your past financial history. The better your credit history the more
a company will desire you as a customer.

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