A credit score is a number that shows how risky you appear to lenders, while a credit report is the detailed record of your credit history that the score is based on.

Credit scores and credit reports help lenders understand how reliably you manage money, repay debts and handle credit. Your credit report contains information such as repayment history, loan applications, defaults and hardship arrangements, while your credit score summarises this into a single number. Checking your report regularly helps you spot errors, protect yourself from identity fraud and improve your financial wellbeing.

For more information about Credit Reports and Scores visit the moneysmart or National Debt Helpline website.