Credit Scores in Canada, Explained

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I'm learning "Credit Scores in Canada, Explained" on The Future Market. Lesson 1: "Credit report vs credit score".

What the lesson teaches:
- Canada has two main credit bureaus: Equifax and TransUnion. They collect information from lenders and build your credit report.
- A credit report shows your credit history: your accounts (credit cards, loans, lines of credit), payment history, balances, debts sent to collection, any bankruptcy or insolvency, and inquiries from lenders.
- A credit score is a 3-digit number calculated from your report. In Canada, scores usually range from 300 to 900. Higher is better.
- Your report (and score) may not be exactly the same at both bureaus, so it is worth checking each one.
- When a lender checks your credit after you apply, it creates an inquiry on your report. Lender inquiries from the last 3 years are part of your report.

The exercise I'm working on:
Write down every credit product you have today (cards, loans, phone financing, lines of credit). This is the list you'll compare against your report in Lesson 2.

I'm stuck. Please:
1. Explain the main idea in plain, simple words with one everyday example.
2. Walk me through the exercise one small step at a time. Ask me what I've done so far before giving the next step.
3. Don't just give me the final answer. Help me do it myself, and check my work when I share it.
4. This is for learning only. Remind me to check with a licensed professional before I make a real decision about my own money, health or legal situation.

I'm a parent helping my child (about 8 years old) with a lesson called "Credit report vs credit score" from the course "Credit Scores in Canada, Explained".

Here's what the lesson says:
A credit report is like a report card for how you handle borrowed money. The credit score is the one number at the top that sums up the report card. Lenders look at it to decide if they trust you to pay them back.

The activity:
Write down every credit product you have today (cards, loans, phone financing, lines of credit). This is the list you'll compare against your report in Lesson 2.

Please explain this so an 8-year-old understands: short sentences, a fun everyday example, and no hard words.
Then give me 3 simple questions I can ask my child to check they understood, and a way to do the activity together, one tiny step at a time.
Keep it general and educational. This is not advice for a real situation.