Credit Wiki Part 1

Credit Check
A credit check is a process of reviewing the information in order to determine if an individual will be able to repay the debt or loan amount taken from the lenders. A credit checks is generally carried on by credit agencies, credit companies, etc. An individual can also credit check online.
Credit Report
A credit report is a report that contains detailed information about the credit history and credit score of an individual such as late payments, number of accounts, bankruptcies, amount of loan taken, applications for new credit, etc. The lenders, credit agencies, etc extend the loan to the individuals after determining their credit bureau reports. A credit report service can also be availed through online.
Credit Bureau
The credit bureau companies maintain the credit score and credit history of the individuals. Credit bureaus sell the credit information to the creditors or lenders for a certain amount of fees. The clients of the major credit bureaus include credit card companies, banks, mortgage lenders and other financing companies.
Credit Cards
Credit card as the name suggests is a way of payment by using the plastic cards, which are issued to the individuals for making the payment. Using the credit cards services enable the individuals to buy anything without having to pay in cash. A credit card also allows an individual to get out of the emergency situations. The individuals can apply for credit cards through banks, credit card companies, etc.
Credit Score
A credit score is a number that is calculated after determining the credit history of the individuals. A good credit score is one of the most valued assets of individuals as it determines their credit worthiness. A good credit score or Fair Isaac credit score helps them to establish themselves in the financial circuit.
Credit Counseling
Credit counseling mainly refers to providing professional counseling to the individuals so that they can mitigate credit problems and improve their credit score efficiently. The credit counseling services or debt counseling services are offered by the credit counselors, private organizations or the credit reporting agencies.