Why do lenders request to look at your credit report before you can borrow money?

They want to see how much money you have money you have in savings for the product you want to purchase

They want personal information, such as your high school and college GPAs, to deem creditworthiness

They can interpret your values and character based on your everyday purchases and assess your creditworthiness

They want to see how responsible you are in making payments on existing debt

Question

Business

Jaylah Bentley

1 November, 22:16

Why do lenders request to look at your credit report before you can borrow money?

They want to see how much money you have money you have in savings for the product you want to purchase

They want personal information, such as your high school and college GPAs, to deem creditworthiness

They can interpret your values and character based on your everyday purchases and assess your creditworthiness

They want to see how responsible you are in making payments on existing debt

+5

Answers (1)

Know the Answer?

Kaitlyn Hutchinson · Answer 1

The correct answer is letter "D": They want to see how responsible you are in making payments on existing debt.

Explanation:

Credit reports are documents displaying the credit history of individuals. They allow lenders to know what the credit behavior of an individual is, thus, have an idea if that person could repay the amount of a loan or is likely to fall into debt. The three major credit bureaus in the U. S. are Equifax, Experian, and TransUnion.