Credit Score vs Credit Report?

So what is the difference between a Credit Score and a Credit Report? This is a good question asked by many newcomers who are confused by these similar but different meaning terms. A credit report contains all of the detailed information in person’s credit file maintained by Credit Bureaus. Think of it as an accumulation of information about how you pay your bills and repay loans, how much credit you have available and what your monthly debts are that could be provided by the Credit Bureau in a consumer report to a third party, such as a credit card company or a lender.

Credit score on the other hand is the result of data from a credit report being fed as input through a complex mathematical algorithm which interprets the data and outputs a credit score, which is a single number. Credit scores commonly range from 300 to 900.

Americans are entitled to one free credit report within a 12-month period from each of the three credit bureaus but are not entitled to receive a free credit score. In Canada where credit scoring is done in a similar fashion on the most part, there is one important difference, Canadians may order a free copy of their credit report any number of times in a year, not just once, as long as the request is made in writing, and as long as the consumer asks for a printed copy to be delivered by mail. The request is noted in the credit report, but it has no effect on their credit score.