Question

what is a credit report?
a. a credit report is a number representing your creditworthiness.
b. a credit report is a detailed listing of your credit history.
c. a credit report is a ranking which compares your creditworthiness to others.
d. a credit report is a missed payment or other factor which negatively affects your credit.

Explanation:

Define a credit report

Using the Credit History knowledge point

A credit report is a detailed, comprehensive record of an individual's borrowing and repayment history, compiled by credit bureaus.

Analyze the given options

• Option a: Describes a credit score, which is a single numerical value calculated from the report.
• Option b: Correctly identifies a credit report as a detailed listing of your credit history.
• Option c: Describes a relative credit ranking or percentile, not the report itself.
• Option d: Describes a negative mark or delinquency factor on a credit file, rather than the entire report.

Answer:

• a. A credit report is a number representing your creditworthiness.
• b. A credit report is a detailed listing of your credit history. (Correct answer)
• c. A credit report is a ranking which compares your creditworthiness to others.
• d. A credit report is a missed payment or other factor which negatively affects your credit.