T F Credit reports are issued monthly, so you know how much money topay toward your credit card bill.

False

Explanation:

A financial statement can be defined as a document used for the formal communication or disclosure of financial information and statements to present and potential users such as investors and creditors. These includes balance sheet, statement of retained earnings and income statement.

Generally, financial statements are issued to recipients on a monthly basis.

A credit report can be defined as a financial document that comprises of detailed information about a person's credit history or activities with respect to borrowed money (loans). It is usually prepared by a credit bureau.

A credit score can be defined as a numerical expression between 300 - 850 that represents an individual's financial history and credit worthiness. Therefore, a credit score determines the ability of a borrower to obtain a loan from a lender.

This ultimately implies that, the higher your credit score, the higher and better it is to obtain a loan from a potential lender.

In conclusion, credit reports are issued to a customer on request and at any given time, so he or she knows how much money to pay toward your credit card bill.