Credit bureaus are organizations that collect and maintain information about individuals' credit histories. They gather data from various sources, such as banks and lenders, to create credit reports. These reports include details about loans, credit cards, payment history, and any outstanding debts. The primary role of credit bureaus is to provide this information to lenders, helping them assess the creditworthiness of potential borrowers. The three major credit bureaus in the United States are Equifax, Experian, and TransUnion. Lenders use these reports to make informed decisions about granting credit and setting interest rates.