What does a credit report provide?

A credit report provides a detailed summary of an individual's credit history and activity, which is essential for lenders to assess the creditworthiness of a borrower. It includes information such as the borrower's credit accounts, payment history, outstanding debts, and any public records like bankruptcies or liens. This comprehensive overview helps lenders determine how likely the individual is to repay new loans based on their past financial behavior.

The focus of a credit report is not on personal background information, financial planning, or current bank account balances, which distinguishes it from the other options. Therefore, option B accurately captures the purpose and content of a credit report, emphasizing its critical role in personal finance and lending decisions.