Get your 3 credit score and report today! scores WWW.CreditScorePro.com The Difference Between a Credit Report and a Credit Score etween Credit report is a detailed history of the loans you´ve received and credit cards you´ve used that is offered by the three bureaus once a year. If you´ve had collections, they may also appear on any of the credit reports. For each account, the credit report shows your payment history, current balance, credit limit, the date the account was opened, and whether the account is open or closed. Credit score is a three digit number based on the information in your credit report. The bureaus factor in the number of years you´ve had credit, how much of your available credit you´re currently using, whether you´ve recently made any late payments, and how recently you´ve had any negative ng, actions or credit applications. Why Your Credit Report Matters First, your credit score is based on your credit report. Any incorrect information could reduce your credit score. A lower credit score can cause your interest rates to rise or you could be denied credit. Your credit report also lists past addresses and employers. Credit report inaccuracies could slow loan processing. A credit report is often the first place people detect identity theft. By regularly monitoring your credit, you lace can reduce the damage from credit fraud.