By: Ray Kirk, Ph.D., Federal Benefits Specialist
Published: April 22, 2019
Banks, car dealers, credit card companies, newspaper columns all talk about credit scores and credit reports. Do you know how they differ and what they are used for?
A credit report chronicles your credit history — a credit score predicts your credit future.
A credit report is the detailed history of your credit use and repayment patterns. A credit score is a single number, based on an algorithm, predicting your credit risk based on the information in your credit report at one point in time.