The Experian Credit Score is the UK's most trusted rating* – a good Experian Credit Score is likely to mean you have a good credit score with companies. It's based on information in your Experian Credit Report, and runs from 0-999. The higher it is, the better your chances of getting credit at the best rates.
Credit scores from the three main bureaus (Experian, Equifax, and TransUnion) are considered accurate. The accuracy of the scores depends on the accuracy of the information provided to them by lenders and creditors. You can check your credit report to ensure the information is accurate.
Your Experian credit file is also likely to be checked if you apply for a mortgage or finance for a new vehicle. A vast array of UK credit providers uses Experian, either alone or alongside Callcredit or Equifax.
Inaccuracies on credit reports are relatively rare, but they can occur from time to time. That's why it's wise to regularly check your credit reports with the three national consumer credit bureaus (Experian, TransUnion and Equifax).
We provide a score from between 0-999 and consider a 'good' score to be anywhere between 881 and 960, with 'fair' or average between 721 and 880.
More companies use Experian for credit reporting than use Equifax. This alone does not make Experian better, but it does indicate that any particular debt is more likely to appear on an Experian reports.
Scores between 566-603 are considered Fair. Scores between 604-627 are considered Good. Scores 628 and above are considered Excellent.
Experian is a global credit bureau, while CIBIL is India's first credit bureau and operates solely in India. Another difference is that Experian has a credit score range of 300-900, while CIBIL has the same credit score range but is referred to as the CIBIL score.
There are many factors that affect your score – some more than others. Bankruptcy will lower your score far more than one late payment, for example. It may seem odd, but never taking out credit can also give you a poor rating. Lenders like to see that you've managed credit successfully in the past.
Experian vs. Credit Karma: Which is more accurate for your credit scores? You may be surprised to know that the simple answer is that both are accurate. Read on to find out what's different between the two companies, how they get your credit scores, and why you have more than one credit score to begin with.
Experian is one of the popular CICs of India that is recognised by the Securities and Exchange Board of India. Apart from having a global reputation, Experian is a leader in various information services.
Experian credit scores range between 0 and 999, using the following bands: 881-960 (Good Credit) 961-999 (Excellent Credit)
We gather, analyze and process data in ways others can't. We help individuals take financial control and access financial services, businesses make smarter decision and thrive, lenders lend more responsibly, and organizations prevent identity fraud and crime.
Your Experian score may be higher than what another credit bureau shows because Experian calculates credit scores using its own unique scoring model.
The primary credit scoring models are FICO® and VantageScore®, and both are equally accurate. Although both are accurate, most lenders are looking at your FICO score when you apply for a loan. There's a lot to learn about credit scores and credit reports and having more than one credit score can get confusing.
TransUnion CIBIL Limited (Formerly known as Credit Information Bureau (India) Limited) is a renowned Credit Information Company (CIC) that maintains credit information of over 1000 million individuals and businesses worldwide. In India, TransUnion CIBIL is considered as one of the most trusted credit bureaus.
The base FICO® Scores range from 300 to 850, and a good credit score is between 670 and 739 within that range.
The credit scores you see when you check a service like Experian may differ from the FICO scores a lender sees when checking your credit. That's because the lender may be using a FICO score based on data from a different credit bureau. It may also be looking at a different FICO scoring method.
Creditors set their own criteria and credit standards, and a credit score of 700 is generally considered a good, but not exceptional, score.
Absolutely! As banks look at your credit score which is provided by the 4 credit bureaus Experian, Equifax, CIBIL™ and CRIF High Mark in India, it is best to check your credit score before applying for any loan or credit card.
Validity of the scores from the different credit bureaus :
However, the credit scores issue by Equifax and CIBIL™ and the other two companies all have the same validity. The CIBIL™ score might be more well-known because CIBIL™ has been in operation for a longer time and has many more years of historical data.
In the UK, your credit score will be measured on a scale of 0 to 999 on Experian, or 0 to 1000 on Equifax. Anything above 881 on Experian is considered to be a good score, whereas anything above 420 on Equifax is considered to be a good score.
New bands: Poor (0-438), Fair (439-530), Good (531-670), Very Good (671-810), Excellent (811-1000). Changes in bands don't indicate an actual improvement in credit score; it's just a new scale. Clearscore provides free access to Equifax credit data, one of the UK's main credit reference agencies.
A score of 466-700 is considered excellent (reference: https://www.finder.com/uk/equifax).