A Guide to Credit Checks for Employment: Credit Report vs. Credit Score

A credit report provides detailed information on a person's financial history, including identifying information, credit accounts, inquiries, public records, and delinquencies, whereas a credit score is just one number representing an individual's creditworthiness. Credit scores are derived from credit reports, with FICO and VantageScore being the main scoring companies that calculate these scores. The relationship between credit report and credit score is close, but they differ in representation, process, use, availability, and hiring practices. Understanding the differences between a credit report and credit score is essential for both employers and candidates to ensure fair hiring practices and personal financial literacy.