Take a look at this video to learn how credit profiles are determined and the benefits of maintaining a good credit profile. 

Credit bureaus are custodians of credit information, which means they keep a record of how we manage our credit, if we pay on time and how much debt we have. If you have a loan, a store card or even a cellphone contract you will have a credit profile with the credit bureaus, where this information is stored.

When you apply for a loan or buy something on credit, the credit providers will review your credit profile to determine if you are eligible for credit.