Credit Reference

Credit Reference
A credit reference can be a report from a credit agency for either a business or an individual. The term can also be used to mean a letter from a bank or other financial institution with whom a company has done business, confirming to third party that the company or individual is known to the financial firm as a good client.

Credit references are generally used to determine the creditworthiness of a person or individual. Credit agencies are used most often for this purpose, although individual letters of reference are sometimes necessary. For example, an overseas business wishing to establish its credentials in the United States may obtain a number of credit references from other businesses, banks, vendors and customers.

Investment dictionary. . 2012.

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  • credit reference — UK US noun [C] ► FINANCE, BANKING a report that provides information about a person s or company s ability to pay their debts: »The bank cannot decide which rate to offer a customer until it has received an application and can seek a credit… …   Financial and business terms

  • Credit reference — A credit reference is information, the name of an individual, or the name of an organization that can provide details about an individual s past track record with credit. Credit rating agencies provide credit references for companies while credit …   Wikipedia

  • credit reference agency — A credit reference agency is a business, which collects information on the financial standing of individuals with the specific intention of making the information available to others. A licence under the Consumer Credit Act 1974 is required if… …   Law dictionary

  • credit reference agency — UK US noun [C] UK FINANCE ► CREDIT BUREAU(Cf. ↑credit bureau) …   Financial and business terms

  • credit-reference agency — noun An organization that specializes in providing credit ratings • • • Main Entry: ↑credit …   Useful english dictionary

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  • credit-reference agency — / kredɪt ˌref(ə)rens ˌeɪdʒənsi/ noun a company used by businesses and banks to assess the creditworthiness of people …   Marketing dictionary in english

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  • reference — ref‧er‧ence [ˈrefrəns] noun [countable] 1. with reference to formal used to say what you are writing or talking about, especially in business letters: • With reference to your recent advertisement, I am writing to apply for the post of sales… …   Financial and business terms

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