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Questions and Answers
Which of the following is NOT true about credit reports?
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?
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?
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?
What can potentially lenders, landlords, and employers learn from your credit report?
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How can credit reports impact major life decisions?
How can credit reports impact major life decisions?
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