Chapter 8, Problem CC.11Q

Summary Introduction

To discuss:

Reason to check credit report; the role of credit bureau, credit report and the FICO score in determining creditworthiness and the cost of credit; way to get their credit report and alternative if they find erroneous information in credit report.

Introduction:

FICO score is just like credit score of the borrower. FICO score is used together with other details of the borrower to assess credit risk and to determine whether to give credit or not.