In terms of Section 70 of the National Credit Act (NCA), a credit bureau is an entity that collects, compiles and report consumer credit information filed from any credit provider for the purposes of credit scoring or credit assessment.
When a consumer approaches a credit provider and applies for credit, the credit provider will ask a credit bureau for your credit information. A credit report is supplied to the credit provider for the purpose of drawing up credit scores. Credit providers use credit scores to determine the risk assigned to a borrower’s ability to repay their debts.
The credit bureau may receive the following information in respect a consumer:
The consumer has the right to access and challenge credit reords and information kept by the credit bureau.