What is the Difference Between a Credit Score and Report?


 

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Male Speaker:
This segment of Credit FYI is brought to you by FreeScore.com.

Carrie:
One of Credit FYI's readers wrote in and asked the question, "What is the difference between a credit score and a credit report?" Well you're not alone. A recent poll suggests that 21 percent of people didn't know the difference between a credit score and a credit report. Your credit report contains everything about your credit behavior and your personal information. This information is then used to produce your credit score, which is a three-digit numerical assessment of how likely you are to default on your credit. The higher the score, the lower the risk for the creditor. Your credit report needs to be accurate so that those scores wll also be accurate. Bottom line from Credit FYI? Make sure you're checking all three of your credit scores and all three of your credit reports.

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