A credit score is a numerical representation of a person's credit history ranging from 350-850.
A credit rating is the actual words used for your credit history such as, Excellent, Good, Poor, etc.
But, what is a Credit Report?
A credit report is a detailed sheet of a person's credit history, which is collected by the credit bureaus
5 factors that make up a credit score
- Payment History
- Used Credit (Amount Owed)
- Length of Credit History
- New Credit
- Type of Credit
The last question: how can someone like me start my own credit history?