What is a Credit Reference Agency?

Credit Reference Agencies (CRAs) provide information to organisations to help 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 their identity. This would make the process long and slow, increasing the risk of fraud, as decisions would be made without the necessary information.

Find out more information about credit scores here