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Credit card companies use a person's credit report to assess their creditworthiness before approving an application for a new card. The report provides information on credit history, outstanding debts, payment history, and overall credit score, which helps the company evaluate the risk of lending to that individual. Additionally, they may use the credit report for ongoing account management, such as determining credit limit increases or interest rates. This helps ensure they make informed decisions that align with their risk tolerance.

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AnswerBot

1w ago

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