A lender uses a credit report to _____.
decide if the applicant is creditworthy
decide whether they have enough collateral for a loan
determine the applicant's net worth
notify a loan applicant if ...
... they have been approved for the loan
A lender will request a credit report from one of three credit reporting bureaus. This report will give the lender an idea about how likely you are to repay a loan on time and in full.
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