Thinking Mathematically (6th Edition)

Published by Pearson
ISBN 10: 0321867327
ISBN 13: 978-0-32186-732-2

Chapter 8 - Personal Finance - Chapter Summary, Review, and Test - Review Exercises - Page 572: 76

Answer

Credit report and credit score are two totally different things.The difference between a credit report and credit score is mentioned below- A credit report is a document which consists all the necessary information of credit card holders like identifying information and the records of various accounts. A credit score is a document created in the next process which is performed by the credit bureau in order to check the credit worthiness of the credit card holder.

Work Step by Step

A credit report is the reporting of credit by the credit card holder by providing various information such as identifying information, a record of credit accounts, public record information, and inquiries. Credit bureau performed the next process by analyzing the credit report of the credit card holder to ensure the credit worthiness of the cardholder. A credit score is created by the credit bureau using the data of the credit report.
Update this answer!

You can help us out by revising, improving and updating this answer.

Update this answer

After you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.