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Analysis of Credit Bureaus & Top-Down/Bottom Up Budgeting

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Describe the services provided by a credit service such as Experian, Equifax, and Transunion. How are these services provided?

Bottom-up and top-down are the traditional approaches to estimating project budgets. Constrast the strengths of bottom-up and top down approaches to project budgeting.

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Description of services provided by Credit Reporting Agencies Experian, Equifax, and Transunion.

Description of the strengths of bottom-up and top down approaches to project budgeting.

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To understand the services that credit unions provide, we first need some background on credit. Banks make loans based on how "risky" they think a borrower is. If there is a lower probability that a person will pay back their loan, the bank will charge that person a higher interest rate compared to another borrower who always paid his previous loans on time. There are certain activities that have been shown to indicate that a borrower has a lower chance of paying back their loan. These activities include maxing out credit cards, missing payments on other loans, or filing bankruptcy. A credit report contains information about all of these activities.

Credit Reporting Services provide information to banks about borrowers. The 3 ...

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