New Delhi, April 2 -- In personal finance, the terms 'credit report' and 'credit score' are often used interchangeably, though they represent different concepts.

Both serve as tools for assessing the creditworthiness of loan applicants and borrowers, but understanding the difference between them is crucial.

A credit report is a complete and comprehensive white paper documenting an individual's entire borrowing history. This includes payment history, credit accounts and outstanding debts. It is nothing but a detailed financial biography that most lenders refer to for understanding the risk when considering credit card and personal loan applications from aspiring borrowers.

On the other hand, a credit score is nothing but a simple numeri...