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Credit Scores and Credit Reports
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Credit Scores and Credit Reports

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Questions and Answers

Which of the following is NOT true about credit reports?

  • Credit reports are records of past credit behaviors.
  • Credit reports determine your credit score. (correct)
  • Credit reports are used by lenders, landlords, and employers to assess financial dependability.
  • Credit reports help build, track, and protect credit reputation.
  • What is the main purpose of a credit report?

  • To help you build, track, and protect your credit reputation. (correct)
  • To determine your financial dependability.
  • To assess your past credit behaviors.
  • To calculate your credit score.
  • Why are credit reports important for buying a car or renting an apartment?

  • To assess your past credit behaviors.
  • To determine your eligibility for a loan or lease. (correct)
  • To calculate your credit score.
  • To track your credit reputation.
  • What can potentially lenders, landlords, and employers learn from your credit report?

    <p>Your financial dependability and credit reputation.</p> Signup and view all the answers

    How can credit reports impact major life decisions?

    <p>By determining your eligibility for loans and leases.</p> Signup and view all the answers

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