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 typically fill this role in the case of consumer credit; potential lenders consult the credit rating agency for information on an applicant as part of their process for deciding whether or not to grant credit to the applicant.
Credit references are used to help lenders quantify the risk of lending to a given applicant, or to determine overall creditworthiness. For example, if an applicant's credit history indicates proper, timely payments on all outstanding obligations, a lender may judge it more likely that the applicant will make timely payments on the requested loan.