Your Experian Credit Score

Your Experian credit score can help you to understand how lenders view your credit report.

Before deciding whether or not to lend money, many organisations take your Experian credit report, plus additional information from your application form, and generate a credit score. This score predicts the risk involved in granting you credit.

Calculating your score

Every lender uses a slightly different credit scoring formula that represents its own and industry experience. This may be adjusted according to the type of credit you are applying for. So every credit application could generate a different credit score.

Credit scoring is designed to predict how likely you are to repay a loan and to make your repayments on time. Over the years, automated credit scoring has proved to be more accurate and consistent than subjective human judgement.

Credit scores range from 0 to 999. A higher score suggests that you will probably find it easier to borrow money or buy goods on credit. Knowing your existing credit score could help you take steps to improve it.

Your credit score will also change over time as the information in your credit history and on your credit application form changes, the credit score changes too. You should check your Experian Credit Score regularly, so you keep up to date with your credit rating.

How to check your Experian Credit Score?

The first step in understanding your Experian Credit Score should be to sign-up  to CreditExpert, the online credit monitoring and Identity Fraud Expenses Insurance service from Experian. Sign up for a free trial and get unlimited access to your Experian credit report and Experian Credit Score.