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Consulting the credit history of your prospects can help you make better business decisions. Learn about three uses for this valuable information.
The information gathered by credit bureaus in credit reports can be very useful to get to know your prospects better. Today, with tools such as kiban cloud APIs, you can make queries that will help you determine how much you should integrate someone into your business, or make decisions that minimize your risks.
Learn about these 4 uses of credit report inquiries in the business world.
1 For lending: History can help you assess how likely an applicant is to repay a loan.
2 To offer credit cards or accept a credit card application: Knowing the payment behavior your applicant has had with other credit grantors can help you determine if it is in your best interest to offer your product or what amount of credit he or she could best handle.
3 To study a potential tenant: If you or your client are landlords, with the report you can analyze how creditworthy a potential tenant is to cover their payments.
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