Which organization collects financial data from various sources and compiles into a credit history and credit score?

• A. Credit report
• B. Credit repair service
• C. Credit bureau
• D. Debit card

Answer: (C)

Credit bureaus are organizations that gather information from lenders, banks, lenders, collection agencies, and public records, then compile it into a person’s credit history and generate a credit score using models like FICO or VantageScore. This data includes payment history, current balances, length of credit history, new credit inquiries, and the mix of credit types. Lenders rely on these reports and scores from the bureaus to assess credit risk and decide on loan terms. A credit report is the actual file of your data, not the organization itself. A credit repair service helps address issues in a report but does not create or collect the data. A debit card is a payment method tied to funds in your account and does not affect credit history or scoring.