What is the best description of an individual's credit history?

An individual's credit history is best described as a record of their repayment of debt. This history reflects how an individual has managed their credit accounts over time, including information about whether payments were made on time, how much total debt was held, and any defaults or bankruptcies. It is a comprehensive view of a borrower's credit behavior, which lenders use to assess the risk of lending money to that individual.

This record is crucial because it influences credit scores, which are numeric representations of creditworthiness. A solid credit history demonstrates responsibility in managing credit, helping individuals secure loans and favorable interest rates in the future.

While other choices may touch on financial aspects, they do not accurately encapsulate the essence of credit history. A detailed financial plan pertains to future financial management, a record of personal assets focuses on what someone owns rather than how they manage borrowed money, and a summary of credit card usage might provide insight into spending habits but lacks the broader context of overall debt repayment behavior.