What is the main source of information credit card companies use to decide whether to issue you a credit card?

Lenders rely heavily on credit reports when evaluating credit applications. By analyzing the data contained within, they can gain insights into an applicant's creditworthiness and financial responsibility.

Credit bureaus play a crucial role in the financial industry by compiling and selling credit reports. These reports contain detailed information about an individual's credit history and repayment behavior.

The primary purpose of these credit reports is to assist lenders in predicting the likelihood of a borrower repaying their debts on time. This information is invaluable in assessing the risk associated with extending credit.

In addition to credit reports, lenders may also consider other information when making credit decisions. This could include income level, employment status, and the type of credit being applied for.

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