What's the difference between a credit report and a credit score?

Great question! Here is an overview of the key differences:

• Credit report - This is your full file from the credit bureaus detailing your credit history, accounts, inquiries, public records, etc.
• Credit score - This is a three-digit number calculated based on the information in your credit report. It summarizes your creditworthiness.
• Credit report details - Includes all your loans, credit cards, payment history, account balances, etc. chronologically.
• Credit score factors - Scores are calculated based on credit history length, payment history, utilization, etc.
• From credit bureaus - Reports originate from Equifax, Experian, TransUnion.
• Calculated by scoring models - Scores come from algorithms like FICO or VantageScore.
• Used to evaluate applications - Lenders review your full credit report when you apply for credit.
• Used to assess risk - Lenders look at credit scores to quickly evaluate loan risk.

Your credit report contains all the raw data and your credit score condenses that data into a single number lenders use to assess creditworthiness.