Credit bureau's

The three national credit bureaus collect and report the credit information about the consumers. This information is used by lenders, landlords, insurers, utility companies, and other credit grantors before extending new credit to the consumers. This helps them in making fast and fair decisions. The lending companies report the accounts to one or all the bureaus. Based on this info, the consumers manage and improve their credit profile.
The bureaus also distribute the information to appropriate financial institutions. The lenders inquire about your file from one or all the bureaus and get the accurate credit history about you. The deals are decided based on this info and your income. When a lender makes an inquiry in your file, it gets added in your file. Too many negative inquiries can also hurt your scoring. So, it is necessary to apply for credit in moderation.
The credit bureaus collect and report the consumer information individually. Because of this reason, the credit scores may vary with the bureaus. It is very important that your file displays all the info accurately so that your credit profile is not affected.

I found these threads interesting and informative

http://www.debtconsolidationcare.com/forums/credit-scoring.html

http://www.debtconsolidationcare.com/forums/credit-check.html

Justme: Thanks for your very informative answer..I am trying to clean up my credit..and what a full-time job...:))