Usually, you don't actually have one credit rating on the report. A central credit bureau may collect information it receives from the credit-granting community, primarily banks and financial institutions. In some countries such as USA and UK, this may even include department stores, taxing authorities, landlord and other credit grantors.

A credit report is basically a sorted file of information furnished by the companies you have done business with. It may show your open accounts, with balances and credit limits; whether you pay them on time; whether any of them are or were turned over for collection; any suits, judgments or tax liens, and so on. It is an indication of how well you pay back your bills. It shows whether you pay on time, and in full. It may show late payments and missed payments, too.

What might be referred to as "rating" is a credit score. This is a complex calculation, which helps the creditor understand the chance of a default. It is does not automatically mean "yes" or "no" to credit. Creditors decide whether to grant credit, provide a credit card or loan, based on their own criteria and the history they see on the report, and what products they have to offer. They may look at the total outstanding loans (that includes your credit card balances) and also your credit limit to see how much credit you could get if you charged all your accounts up and took off with the money.