Your credit reports contain vital financial information that will greatly influence your credit rating and score; so what is my credit score? This is your credit ranking which financial institutions and other private and government agencies will use to determine your credit risk, paying behavior, and ability to manage finances.
In other words, your credit score will show bankers and other lending companies your ability to repay debts like credit lines and any types of loans.
It shall also be used by government agencies when they approve business licenses.
Insurance companies used it to assess insurance applications and premiums; while employers use it to check if the applicant is responsible enough or not.
Therefore, if you are thinking that you are not going to apply for a loan in the future; don't make the mistake of taking your score for granted because there are many ways it can still affect you today and in the future.
Hence, you still need to get your free credit reports every year so that your will have an idea of your credit score which could greatly affect you in many ways.
Going back to your question on what is my credit score? Your credit rating score is the sum total of various factors that influence your final score.
10% of the score is based on the types and number of accounts opened; another 10% is based on various accounts currently opened; 15% is based on the total length of your credit history; 30% is based on the type and amount of current loans; and finally the remaining 35% is based on your payment behavior such as promptness in payment of loans.
Therefore, your score shall depend on various factors which are all recorded in your credit report.
Although, this report does not contain your final credit score; but it will somehow give you an idea of where your current financial ranking stands.
Hence, to finally answer your question on what is my credit report; seek a professional advice from credit report services which shall help you get your credit score.