Credit scoring varies by country: This guide covers general principles. For country-specific information, speak with one of our local advisers.
What is a credit score?
A credit score is a three-digit number that lenders use to assess your creditworthiness. In the UK, scores typically range from 0-999 (depending on the credit reference agency). The higher the score, the better.
UK Credit Reference Agencies: In the UK, the main credit reference agencies are Experian, Equifax, and TransUnion. Each uses its own scoring model, so your score may vary between them. Check all three regularly.
0-579
Very Poor
Poor
May have difficulty qualifying
580-669
Fair
Fair
May qualify with higher rates
670-739
Good
Good
Likely to qualify for competitive rates
740-999
Excellent
Excellent
Best rates and terms available
What factors influence your score?
35%
Payment History
Pay bills on time
30%
Amounts Owed
Credit utilisation ratio
15%
Credit History
Average age of accounts
10%
Credit Mix
Different types of credit
Tips to improve your credit score
Pay on time, every time
Set up Direct Debits or reminders. Payment history is the most important factor.
Keep utilisation low
Aim to use less than 30% of your available credit. Lower is even better.
Register to vote
Being on the electoral roll helps lenders verify your identity and improves your score.
Check your credit report
Get free reports from Experian, Equifax, and TransUnion. Dispute errors promptly.
Limit credit applications
Apply for new credit only when needed. Multiple applications can hurt your score.
Build a credit history
Consider a credit builder card if you have a limited credit history.
Common Credit Myths Debunked
Myth: Checking your own credit hurts your score.
Fact: Checking your own credit is a soft inquiry and doesn't affect your score in any country.
Myth: You need to carry a balance to build credit.
Fact: Paying your balance in full each month builds credit just as well.
Myth: Closing credit cards improves your score.
Fact: Closing accounts can hurt by reducing available credit and shortening history.
Myth: Your credit score follows you abroad.
Fact: Credit scores don't transfer between countries. If you move abroad, you'll need to build a new credit history.
Moving between countries? We offer international credit services to help expats establish credit in their new country. Contact our international team for assistance.
Free credit monitoring for members
Track your score, get alerts, and see personalised tips in our mobile app. Available for UK, US, German, French, and Brazilian residents.
Frequently Asked Questions
How often does my credit score update?
Your credit score updates when lenders report new information to credit reference agencies, typically every 30-45 days. You can check your score anytime through our app.
What's a good credit score to buy a house in the UK?
For UK mortgages, aim for a score of 670+ (Experian) or 580+ (Equifax/TransUnion). Different lenders have different criteria. Our mortgage advisers can help you understand your options.
How long does negative information stay on my report?
In the UK, late payments stay for 6 years, defaults for 6 years, and bankruptcies for 6 years. Positive information can remain indefinitely.
What's the electoral roll and why does it matter?
Being on the electoral roll (register to vote) helps credit reference agencies verify your identity and address, which can improve your credit score.
