Accountancy, asked by parekhsuchita6765, 1 year ago

The purpose of a credit report is to do what?

Answers

Answered by aanchal145
0
Hey mate this is Aanchal Parmar answering your question.... Hope This Helps you

A variety of businesses check your credit report to make decisions about you. Banks check your credit report before approving you for credit cards and loans, including a mortgage or auto loan. Landlords review your credit report to decide whether to rent to you. Some employers check credit reports as part of the application process. Your credit report affects many parts of your life, so it's important that the information included is accurate and positive.

Your credit report is the sole source of information for your credit score - a number that lenders sometimes use instead of or in addition to your credit report. Credit score is a three-digit number that sort of grades your credit report. High credit scores show that you have positive information on your credit report while low credit scores indicate the presence of negative information

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