A credit bureau is an organization that collects and maintains information about individuals' credit histories. This information includes details about loans, credit cards, and payment behaviors. Lenders, such as banks and credit unions, use this data to assess the creditworthiness of potential borrowers, helping them decide whether to approve a loan or credit application. There are three major credit bureaus in the United States: Equifax, Experian, and TransUnion. Each bureau compiles its own credit reports, which can vary slightly. Consumers can check their credit reports from these bureaus to understand their credit standing and ensure the information is accurate.