Which of the following best describes a credit report?

A credit report is a comprehensive document that provides a detailed history of a borrower's creditworthiness. It includes information about the consumer's credit accounts, payment history, outstanding debts, and any negative information such as bankruptcies or late payments. This thorough overview enables lenders to assess the risk of lending to an individual and is crucial for determining creditworthiness when someone applies for loans or credit cards.

The other options, while they might include elements found in a credit report, do not fully encapsulate what a credit report represents. A summary of loans applied for could be a part of the report, but it does not address the broader scope of credit activity and history that the report covers. A list of public records and financial transactions may also be included, but again, it doesn’t capture the in-depth analysis of credit behavior. Finally, a document listing current credit card balances is too narrow, focusing only on a specific type of credit account without providing the full background of the borrower's financial habits and reliability. Thus, the correct choice accurately reflects the essence of what a credit report is intended to convey.