A credit score is a number that summarises your creditworthiness — how likely you are to repay debts on time. Lenders use it to decide whether to approve applications for credit cards, loans, mortgages, and phone contracts.
Credit Score Ranges
Different countries and agencies use different scales:
UK (Experian, Equifax, TransUnion)
| Agency | Range | Good score | Excellent |
|---|---|---|---|
| Experian | 0–999 | 881+ | 961+ |
| Equifax | 0–700 | 420+ | 466+ |
| TransUnion | 0–710 | 604+ | 628+ |
US (FICO Score)
| Range | Category |
|---|---|
| 800–850 | Exceptional |
| 740–799 | Very good |
| 670–739 | Good |
| 580–669 | Fair |
| Below 580 | Poor |
What Makes Up a Credit Score?
FICO Breakdown (US)
| Factor | Weight |
|---|---|
| Payment history | 35% |
| Amounts owed / credit utilisation | 30% |
| Length of credit history | 15% |
| New credit (recent applications) | 10% |
| Credit mix | 10% |
UK agencies use similar factors though weights vary.
Credit Utilisation: The 30% Rule
Credit utilisation = (Total balance ÷ Total credit limit) × 100
Example: £1,500 balance across £5,000 limit = 30% utilisation.
Keep utilisation below 30% for a positive impact. Below 10% is ideal.
Payment History: The Biggest Factor
Even one missed payment can drop a good score significantly and remains on your report for:
- UK: 6 years
- US: 7 years
Actions That Help vs Hurt Your Score
Improve your score:
- Pay every bill on time (set up direct debits)
- Keep utilisation below 30%
- Keep old accounts open
- Check for errors and dispute them
- Register on the electoral roll (UK)
Damage your score:
- Missing payments
- Maxing out credit cards
- Multiple applications in quick succession
- County Court Judgments (CCJs)
- Defaults and insolvency
How Long Do Negatives Last?
| Item (UK) | Stays on file |
|---|---|
| Missed payment | 6 years |
| Default | 6 years |
| CCJ | 6 years |
| Bankruptcy | 6 years |
| IVA | 6 years |
Checking Your Score
In the UK you are entitled to a free statutory credit report from each agency. You can also check regularly without affecting your score — this is a "soft" search.
- Experian: CreditExpert (free trial, then subscription)
- Equifax: Clearscore (free)
- TransUnion: Credit Karma (free)
Score vs Report
Your score is a summary number. Your report is the full history lenders see. Always check both — the report may contain errors not reflected in the score.