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5 February, 05:34

You are a loan officer at a bank. An application comes to you for $5000 loan. Explain why you would want to know the persons credit history

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  1. 5 February, 07:26
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    A credit history is a record of a borrower's responsible repayment of debts. A credit report is a record of the borrower's credit history from a number of sources, including banks, credit card companies, collection agencies, and governments.

    A good credit score means that the person receiving the loan is reliable and will be more likely to pay off the loan in a reasonable amount of time.
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