Which statement best describes the role of a credit agency?
It tracks the use of credit for lenders.
It teaches how to make smart financial decisions.
It shows how saving money makes financial sense.
Which statement best describes the role of a credit agency?
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The statement that best describes the role of a credit agency is: It tracks the use of credit for lenders.
Credit agencies collect and maintain information about consumers’ credit history and financial behavior. They provide lenders with credit reports and scores to help them assess the risk of lending money to individuals based on their past credit usage. This allows lenders to make informed decisions about whether to approve a loan or credit application.
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