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One of the primary purposes of credit reports is to evaluate creditworthiness for lending purposes. Lenders, such as banks and financial institutions, utilize credit reports to assess an individual's likelihood of repaying borrowed funds. A credit report provides a detailed history of a borrower's credit activities, including their payment history, outstanding debts, and overall credit utilization. By analyzing this information, lenders can make informed decisions about whether to extend credit, the amount of credit to offer, and the interest rates to charge. This process is essential for mitigating risk for lenders and ensuring that they lend responsibly.