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What Is the Difference between a Credit History and a Credit Score?

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  • Written By: Kristie Lorette
  • Edited By: O. Wallace
  • Last Modified Date: 02 September 2016
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A credit history and a credit score have a correlation with one another. The difference between a credit history and a credit score is that a credit history is a list of all of the different types of accounts, loans and credit accounts a person has, as well as the history of each account. The credit score is a number, or "grade," that is calculated by using different aspects of the credit history.

Another difference between a credit history and a credit score is that the credit history is reported by creditors to each of three credit bureaus: TransUnion®, Equifax® and Experian®. It is the credit bureaus that then use this information and the formula of its choice to determine the credit score.

A credit history is a list of each type of credit or liability account a borrower has. For each account, the creditor that holds the account provides information to the credit bureaus that is then listed on a credit report. This is another difference between a credit history and a credit score. A credit history is listed on a credit report, but a credit score is not listed on a credit report, and has to be requested separately.

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Some of the information that can be found on a credit history for each account includes the type of loan or credit account. The credit history also shows when the account was opened and if the account was closed, and the closing date. The credit history reports lists the balance on the account and any problems on the account, such as late payment information.

Cost is another difference between a credit history and a credit score. It is a federal law that an individual has a legal right to request a copy of each of their three credit reports at least once every 12 months. It is also a legal right to request a copy of each of the credit reports if the individual has been denied credit. In these circumstances there is no cost for requesting copies of the credit history or credit report. In order to obtain a credit score, each of the credit bureaus charges a fee to obtain this information.

Another difference between a credit history and a credit score is that a dispute can be made if there is inaccurate information on the credit history or credit report. A credit score cannot be disputed, but may change by fixing the inaccuracies on the credit history.

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