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What reasons would a business have to request a credit report?

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Answered 2 years ago
Answered 2 years ago

Credit report is a statement containing your credit history, including your past transactions with other creditors, and your stability in credit management, in order to determine if you are to grant or to deny credit request.

Hence, a business must request a credit report. It is because they need to know if you are a responsible consumer or not. This will also determine if you are capable of repaying, and here they'll see your creditworthiness. Also, by requesting a credit report can mitigate business fraud.

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