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What is a Credit Reference Agency?

Credit Reference Agencies ( CRAs) provide information to organisations to help them make fair and responsible lending decisions.

Without CRAs, companies would need to collect information about how every individual applicant has managed credit in the past, as well as other publicly-available information to help verify identity. It would make it a very long, slow process and increase the likelihood of decisions being made without all the necessary information as well as heightening the risk of fraud.

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