Experian Credit Score Explained

Experian is the biggest credit reference agency in the UK, followed by Equifax then Callcredit. They each summarise your credit file into a score that highlights the risk that they think you represent to lenders right now. Each operate independently, use their own systems to create the score, and they are completely and utterly different.

At the time of writing this, the average Experian credit rating is 783, a good one is 881, and an excellent rating is 961+. Click here to access your Experian credit score

Experian Credit Score Range - Bands

Your Experian credit score is a guide for lenders, and is purely based on the content of your Experian credit report, which details your recent borrowing history to try to work out if you can handle more debt.

Experian Credit Rating Bands

The Experian Credit Score can change depending on how the contents of your Experian Credit Report change. Below are what each band can indicate according to Experian's Credit Expert service, credit score section:

0-560 = Very Poor

Most lenders would regard this score as very high risk and would expect most people in this category to have serious problems with repaying debt

561-720 = Poor

Most lenders would view this score as high risk and would expect a high proportion of people in this category to have serious problems with repaying funds

721-880 = Fair

Most lenders would regard this score as moderate risk and would expect only a small proportion of people in this category to experience serious problems with repaying credit.

881-960 = Good

Most lenders would view this score as low risk and would expect few people in this category to experience serious problems with repaying credit.

961-999 - Excellent

Most lenders would regard this score as very low risk and would expect very few people in this category to experience serious problems with repaying credit.

How do you get access to your Experian Credit Score?

You access this through the Credit Expert pay monthly service, which now unlimited free access to your credit score. The Credit Expert service is now £14.99 per month, after the free 1-month trial. This includes access to your credit-file and score and a range of monitoring services.

If I have a high Experian Credit Score, does this guarantee I am accepted for credit?

Short Answer = NO! You could have an Experian Credit Score of 999, but still be rejected for a credit application, on the basis of having too low a salary to meet the repayment obligations. But, and it's a big BUT - having a geat credit score does give you the best possible chance getting the loan and a good APR to boot.

Got a question about your Experian Credit Score? Leave a comment below or ask a question in our forum by registering now.

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