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A credit score and credit report are different - but related - tools used by lenders to judge the probability of your fulfilling your debt obligations

  1. Format

    A credit score is a three digit number between 300 and 900 that indicates your credit-worthiness. It gives potential lenders a quick idea of whether you are a responsible borrower. A credit score of 750 is seen as being a good score. Your credit score is contained in your credit report.

    A credit report is a multi-page document that details all your credit-related activity with regard to loans and credit cards. It has details of all your current loans, payment history , all loan and credit card applications you have made, any settled or written off accounts, number of hard enquires, and other such credit-related information.

  2. Time frame

    A credit score takes into account more recent activity, spanning your credit history of the past 24 months.

    A credit report records your credit history over a time period of years. It can take a long time for a negative mark on your credit history to be erased.

  3. Method of calculation

    A your credit score is arrived on the basis of statistical algorithms. It is arrived at after applying a complex mathematical formula to your credit data.

    Your credit report notes all your credit-related information and is a comprehensive report, not a number.

  4. Time taken to improve score/report

    A credit score can be improved in months by taking specific payment-related actions.

    A credit report contains information spanning years, and it can take a long time to remove the negative marks in a credit report.

    Credit ScoreCredit Report
    Three digit numberComprehensive document
    Calculated through statistical analysis No analysis. Detailed record of all credit-related activity
    Based on relatively recent payment history (24months)Based on credit behaviour spanning years
    Can be improved in monthsCan take years to remove negative marks

CIBIL™ is one of the four authorized credit bureaus in India which provide a credit score, the others being Equifax, Experian and CRIF High Mark.

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