Taking care of your credit and keeping it in good shape is a sound financial habit. It helps you to reach your life goals by building your creditworthiness in the eyes of prospective lenders. The most important aspect of assessing your financial health depends on your credit score and credit report. While you may have heard of people using the terms credit report and credit score in lieu of one another, both offer very different insights into how you have managed your credit in the past.

Not sure what is the difference between credit score and credit report? Let’s take a look

What is a Credit Score?

When looking at your credit report, you should have a fair understanding of how to check your credit score. Your credit score is a 3 digit number on your credit report that usually ranges between 300 and 850. Typically, a score between 700 and 749 is considered to be good, anything over 750 is deemed to be excellent. Credit scores are typically assigned for every individual or entity with a PAN card and who has any kind of credit transactions. These are assigned by credit bureaus, who in turn get the data from lenders across the country. For instance, the credit score issued by TransUnion is known as CIBIL score, and is amongst the most popularly used credit scores in the country.

The score provides a snapshot of your creditworthiness to all kinds of lenders, including credit card companies, mortgage lenders, auto lenders, etc. The score keeps changing depending on your borrowing activity.

The credit score is calculated taking into account the information that is listed in your credit report. These key parameters include:

  • Your history of repayments, late payments and defaults on loans and/or credit cards
  • Your current credit utilisation ratio
  • Your hard enquiries towards acquiring more credit recently
  • The age of your credit
  • The types of credit you have in possession

Remember to check your CIBIL score periodically so that you have a fair idea on how your profile may be perceived by a prospective lender. If you are looking to build your credit, monitoring your credit score regularly certainly helps.

What is a Credit Report?

When you need to take a detailed look at your financial history, your credit report outlines a comprehensive list of all your payments and lines of credit. However, it does not always display your credit score.

Credit reports tend to run for several pages that list information broken down by categories. These include:

  • Your personal information
  • Your list of open and closed loan accounts including credit card debt
  • Any credit enquiries that you have made
  • Public records of bankruptcies, repossessions, foreclosures, judgements on civil suits, liens, etc.

There are 4 major credit bureaus in India. These are TransUnion Credit Information Bureau (India) Limited or CIBIL, Experian, CRIF Highmark and Equifax.

Connection Between Credit Score and Credit History

When it is a question of credit score vs credit report, you really cannot choose one over the other. Both components have a purpose to fulfil and are intricately connected as far as establishing your creditworthiness is concerned.

In a nutshell, your credit report is a reflection of your entire borrowing history whereas the credit score is a summation of it taking into account your credit history with respect to all past and current debt instruments.

Remember that if you have a great credit report, your credit score will automatically be good too. On the other hand, too many red flags and negative elements like defaults on loan repayments, bankruptcies will lead to a poor credit report and therefore a bad credit score.

Applying for a Personal Loan

Your credit or CIBIL score is a significant part of your personal loan application getting approved. Generally, the minimum CIBIL score for personal loan applications to be sanctioned hovers around 750 or more. If you have a CIBIL score close to 900, then the chances of you getting a personal loan approved are significantly high.

Fullerton India eligibility criteria require personal loan applicants to have at least 750 credit score at the time of making their loan application. You can use the personal loan eligibility calculator on the Fullerton India website to check if you meet all mandatory parameters needed to apply for a personal loan.

If you have been trying to secure a loan and have a credit rating of 750 and above, apply online today for an instant personal loan.

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Reasons to buy

You can take our personal loan for a variety of reasons.

Wedding Expenses

Higher Studies

Exotic Vacations



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