Reports versus scores
A credit report contains reported account information and other permitted records. A credit score is calculated using a particular model and data. There is no single universal score, and reports can differ between reporting companies.
A bureau does not itself approve every loan or determine an account's legal collectibility.
The CFPB explains credit reporting companies, including the roles of information furnishers and report users.
Consumer and commercial reporting differ
Business credit reports concern organizations and do not have identical coverage or protections to consumer reports. Where personal guarantees or consumer information are involved, review the relevant legal basis.
Do not assume that a data-sharing contract alone satisfies every legal requirement.
Access and furnishing controls
Access to a U.S. consumer report requires a permissible purpose under the Fair Credit Reporting Act. See the CFPB's explanation of permitted access.
For furnishing, establish appropriate account matching, balance updates, dispute handling, corrections, and access controls. Technical reporting formats do not replace legal duties.
Handling errors
Consumers can dispute inaccurate or incomplete information with the credit reporting company and the company that supplied it. Preserve the evidence and route disputes for the required investigation. See the CFPB's dispute guidance.
Never treat a bureau record as proof that a disputed balance is correct without reviewing the underlying account.
Related term: Risk Score.