credit check

Definition

The process of evaluating an applicant's loan request or a corporation's debt issue in order to determine the likelihood that the borrower will live up to his/her obligations. also called credit analysis.

Use credit check in a sentence

In order for you to qualify for a low financing rate, the car salesman is going to run a credit check on you.

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You should make sure that you get a frequent credit check so that you know that you are still in good standing.

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The credit check was used to immediately verify if the borrower had sufficient credit history according to our standard operating procedures.

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