What is the difference between a credit report and a credit score from Equifax?

A credit report and a credit score from Equifax serve different purposes. A credit report is a comprehensive document that outlines an individual's credit history, including their payment history, types of credit accounts, outstanding debts, and public records such as bankruptcies or liens. It provides a detailed overview of an individual's creditworthiness and is used by lenders, landlords, and employers to assess their financial responsibility. On the other hand, a credit score is a numerical representation of a person's creditworthiness derived from the information in their credit report. Equifax calculates credit scores using various models, such as the FICO Score or VantageScore. A higher credit score indicates a lower credit risk, enabling lenders to make informed decisions on loan approvals, interest rates, and credit limits. While a credit report provides a comprehensive view of an individual's credit history, a credit score condenses this information into a single numerical value to simplify risk assessment in lending and other financial decisions.