What are credit scores? Choose the correct answer below. A. Adstalled outline of an individual's credit history prepared by a credi bureau B. An example of an open-end installment loan, allowing the consumer to purchase goods and services on Credit C. Organizations that collect credit information on individual consumers and provide reports to potential lenders D. Ametric used to measure creditworthiness

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What are credit scores? Choose the correct answer below. A. Adstalled outline of an individual's credit history prepared by a credi bureau B. An example of an open-end installment loan, allowing the consumer to purchase goods and services on Credit C. Organizations that collect credit information on individual consumers and provide reports to potential lenders D. Ametric used to measure creditworthiness

Answer 1

## Step 1Credit scores are numerical expressions based on a level analysis of a person's credit files, to represent the creditworthiness of an individual. They are primarily based on credit report information typically sourced from credit bureaus.## Step 2Option A describes a credit report, which is a detailed outline of an individual's credit history prepared by a credit bureau. This is not the definition of a credit score.## Step 3Option B describes an open-end installment loan, which allows the consumer to purchase goods and services on credit. This is not the definition of a credit score.## Step 4Option C describes credit bureaus, which are organizations that collect credit information on individual consumers and provide reports to potential lenders. This is not the definition of a credit score.## Step 5Option D correctly defines a credit score as a metric used to measure creditworthiness. This is the definition of a credit score.

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