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Credit Score vs. Credit Report

6 min read

Last Updated: April 11, 2025

Table of contents

Key Takeaways

Your credit report is a summary of your credit history; your credit score is a number that quantifies the information in your credit report.
Lenders use your credit score to help determine whether they’ll offer you a loan and what terms the loan will have.
It’s a good idea to check your credit report regularly to ensure there are no discrepancies.

You may see the terms “credit score” and “credit report” within the same sentence. The terms are closely related but there are key differences between the two.

Lenders use your credit score and credit report to help determine if they want to lend you money or credit and at what interest rate. If you understand the difference between a credit report and credit score, it can help you see how your financial track record impacts your future credit options.

What is a credit report?

Your credit report is a summary of your credit history. It details your credit journey. Your credit report can include the following:

Personal information: Your name, address, birth date, and Social Security number.
Credit information: How many credit accounts you have, available credit limits, account balances, payment history, the age of your accounts, and the name of each creditor.
Credit inquiries: A listing of the inquiries that lenders have made for your credit reports over the last two years. When you apply for a loan, you authorize your lender to ask for a copy of your credit reports.
Public record information: If you’ve ever filed for bankruptcy or had a foreclosure.

Three major credit bureaus are responsible for creating credit reports. There are smaller companies that focus on certain market areas like employment or housing rentals. These reports might also include your credit history.

A credit bureau collects information from banks, lenders, collection agencies, and public records. They compile this information into a report and then sell it to lenders who use it to decide if they want to lend you money or credit and at what rate.

Other businesses might use this information too. A landlord could use your credit report to decide if they want to rent you a house. A phone company might review your credit history before offering you a phone plan. Some employers might review your credit report before deciding if they want to offer you a job.

If you review your credit report from each credit bureau, you may find differences between them. This is because the information on your credit reports comes from financial institutions and collection agencies that may not report to all three credit bureaus. Reviewing your credit report from all three bureaus allows you to see if there are any differences.

Why is your credit report important?

Your credit report is an important document because it can impact your financial future. It helps to determine whether you can purchase a home, buy a car, rent an apartment, or land a new job.

Lenders, prospective employers, landlords, and government agencies may request your credit report to measure your level of credit risk. Your credit report contains useful information that helps to predict how likely you are to pay your bills on time.

Credit scoring companies also use the data in your credit report to calculate your credit score.

How do you access your credit report?

Federal law allows you to receive one free credit report every 12 months from each of the three major credit reporting agencies. The Federal Trade Commission (FTC) reports that the three credit bureaus have permanently extended the program to include one free report per week.

You can request your free credit report at AnnualCreditReport.com (the only website authorized by the federal government). Additionally, you can ask for a free credit report within 60 days of being denied credit.

When you request a copy of your own credit report, it’s known as a soft credit inquiry. A soft inquiry won’t impact your credit score. When a company or lender requests to see your credit report as part of an application for new credit, this is considered a hard credit inquiry and can impact your credit score.

What is a credit score?

A credit score is a three-digit number derived from the information in your credit report. Lenders use this number to predict your credit behavior.

Credit scores range from about 300 to 850, with higher scores indicating that you’re a lower risk to creditors. Credit scoring companies use mathematical models to create your credit score. The factors that affect your score can vary slightly between credit scoring companies and credit bureaus, which is why you may have more than one credit score.

Typically, your credit score is calculated based on a combination of the following factors:

Payment history: Do you pay your bills on time? Payment history is a big factor in determining your credit score.
Credit utilization: How much of your available credit are you using? Experts recommend using as little as possible of your available credit.
Credit history: How long have you had credit accounts open? As a rule of thumb, the longer your credit history, the better.
Mix of credit: What types of credit do you use? Lenders like to see a mix of different types of credit, such as credit cards and a mortgage.
New credit: How often are you applying for new credit? Too many inquiries in a short amount of time can be a concern to lenders.

Why is your credit score important?

Your credit score is a snapshot of your creditworthiness at a moment in time. Lenders use it to decide if they want to extend you credit, such as a loan, credit card, or even an apartment lease. Your credit score also helps to determine the interest rates and terms you will receive.

Your credit score matters because, according to the FTC, it determines how much it will cost you to borrow money (your interest rate) and whether a credit issuer will agree to lend you money or credit.

How do you check your credit score?

While you might assume that your credit score is on your credit report, this isn’t always the case. Credit reports from the three main credit bureaus don’t always list your score. Luckily, there are several ways to check your credit score. Many credit card companies, like Discover^®, provide your credit score on your monthly statement. Or you can purchase your credit score from any of the credit bureaus by calling them or visiting them online.

How does a credit score differ from a credit report?

Lenders use your credit scores and reports to measure your credit risk. There are differences between your credit report and credit score based on where the information comes from and how the credit scoring model uses that data.

Your credit report contains info given by your creditors, banks, collection agencies, and some public records. Credit scoring models (like FICO^® and VantageScore^®) use this credit report to calculate your credit score.

Lenders and companies use your credit score as a snapshot of your risk as a borrower. The lower your score, the more hesitant a lender may be to extend credit to you. Your credit report is a more detailed summary of your creditworthiness.

The bottom line

To get a clear picture of your overall credit health, check both your credit score and credit reports regularly. This will also help to confirm that there aren’t any discrepancies between the two so you can set yourself up for financial success.

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