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 bureaus provide credit references for individuals.
Other letters of credit reference might be written by banks which would provide basic information about how long the applicant has held an account, what type of account it was, and whether or not there were any overdrafts or late payments noted.
Individuals and companies can carry out credit checks on businesses in order to asses their credit worthiness
Read more about Credit Reference: How Credit References Are Used
Famous quotes containing the words credit and/or reference:
““What are the characteristics of today’s world so that one may recognize it by them?” It pays pensions and borrows money: credit and monuments.”
—Franz Grillparzer (1791–1872)
“I am more and more convinced that, with reference to any public question, it is more important to know what the country thinks of it than what the city thinks. The city does not think much.”
—Henry David Thoreau (1817–1862)