Bureau Score

A Bureau Score is a credit score which is calculated only upon the information held at a credit reference agency. Another term for a credit reference agency is a credit ‘bureau’, and this is where the name has come from.

Typically the information used to calculate the Bureau Score is limited to public data – namely electoral roll, insolvency and judgment information only.

Bureau Scores are used mostly by new lenders to the financial marketplace, who do not have a large sample of established accounts to use to measure the predictiveness of different parts of an application form in terms of which can indicate a good or bad account. Also by the relatively few lenders who are not members of data sharing clubs such as Experian’s CAIS, Equifax’s Insight. Some established lenders also use Bureau Scores to add weight to their own internal risk assessment systems.

They are not so powerful at being able to distinguish between potentially good accounts, and potentially bad accounts, as a credit score that has been developed from a large sample of accounts, but Bureaus Scores can be more powerful than subjective judgement (i.e. a credit professional assessing an application manually).

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