Who Uses Your Credit Report 
How Your Credit Reports Are Used
Ok, so let’s assume that you have (or are going to have) a credit reputation that is shown in credit reports compiled by several credit bureaus. How do banks and other companies use that information to give (or deny) you credit?
Imagine how difficult it would be for a credit card company to review the full credit report for thousands of applicants each day. How would they decide who to give a credit card to? The answer is: By using the “credit score” that is assigned to each credit report.
Each credit bureau uses one or more credit scoring formulas to “grade” a person’s credit history.
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