Is the credit score the same as a credit report?

• A credit score is a numeric synopsis of your past credit information
• The credit score is part of the comprehensive credit report
• The credit score is a numeric synopsis of your past credit information. The credit report on the other hand is a detailed summary of all your credit-related activities.

Let us understand the difference between a credit report and a credit score. 

What is the credit score?

The credit score is a three-digit numeric synopsis of an individual’s credit history and a reflection of his/her financial discipline with respect to debt repayment. The credit score is in the range between 300 - 900. A score above 750 is considered a good credit score with the maximum credit score being 900, increasing the chances of a borrower’s loan or credit card application is easily approved.

The credit score is obtained by evaluating the past credit information which forms part of the comprehensive Credit Information Report or CIBIL™ Report or Credit Report. This score is a summary of the overall credit report, which reflects the creditworthiness of the borrower and indicates the financial capability of the borrower in making timely potential debt repayments.

What is a CIBIL™ (Credit) Report?
The credit report is a very important report considered by lenders for evaluating a potential borrower’s creditworthiness and financial capability based on his/her credit history towards all types of debt repayment. It does not include particulars relating to the individual’s savings, investments or fixed deposit accounts.

The credit report is a comprehensive report of the borrower’s existing and past debt repayment patterns and includes personal particulars and debt history. The CIBIL™ score forms part of this credit report which helps lenders in evaluating the creditworthiness of a borrower before granting them any type of loan. It also helps individuals in assessing their credit score and work towards improving low credit scores for getting potential loans approved easily by lenders.

The credit report helps lenders in providing transparent and accurate credit information about a borrower, which helps them make sound lending decisions and reduce the risk of potential loan default.

TransUnion CIBIL (CIBIL™ ) is one of the four leading credit bureaus in India, others being Experian, CRIF High Mark and Equifax, authorised to collect individual credit data and furnish a credit information report and credit score for evaluating the credit history and financial reputation of such borrower.