The Credits will be shared across both Fallout 4 and Skyrim, as well as Steam and Xbox copies of the games - but not the PlayStation versions. The Creation Club runs on a new microtransaction currency, Credits, of which all players are being given 100 free (about a dollar's worth). I don't think I'd download any of these as free mods, let alone pay a couple of quid for them.
Some of the bits have quests attached but largely it looks quite boring. Content includes clobber like Chinese Stealth Armor and Morgan Yu's spacesuit from Prey 2017, Pip-Boy reskins, weapons, furniture for base-building, and a cheeky nod to Oblivion's horse armour upset with a set of power armour covered in bashed bits of model horses. Swing on by Bethesda's blog to see everything in the Fallout 4 Creation Club's launch lineup. The initial Creation Club lineup is pretty bland, mind, just odds and ends. It's a selection of new content Bethesda are approving and commissioning themselves rather than Steam's failed free-for-all marketplace where anyone could upload anything, see. Unlike Bethesda's disastrous first flirtation with paid mods for Skyrim in 2015, which was quickly abandoned, the Creation Club is more like a DLC microtransaction store partially outsourced to modders. The first digital fruits of Bethesda's new kinda-sorta-paid-mods programme, the Creation Club, arrive today in Fallout 4.