| After learning about credit reports and scores for the first time, Morgan was having trouble with what they meant and how they worked. That is when she saw her friend walking and she thought she could ask for his help. |
|
 | Hey Greg! I had my first class about credits and I have no idea what they are. Could you please explain to me what a credit report and a credit score is? | |
|
| Oh yeah sure! So credit report is a record of a person's use of credit and a credit score is a numerical summary of your credit history that indicates your credit worthiness. | |
|
|
|
|
|
|
| Also, what are the credit reporting agencies? Doesn't a higher score typically means that you have a higher chance of credit repayment? | |
|
| There are three and they are Equifax, Experian and TransUnion. Yes, that is correct! Great Job! | |
|
|
|
|
|
|
| Okay thank you so much! That helps a lot. | |
|
| You are welcome Morgan! | |
|
|
|
|
|
