The average credit score in the UK is 383 with Equifax and 759 with Experian. There are three main Credit Reference Agencies (CRA) in the UK: Experian, Equifax and TransUnion. Each CRA uses a different scale to assign a credit score so it's important to know each one.
For Experian, a score of 881 to 960 is considered 'good'. For TransUnion, a score of 604-627 is considered 'good'. For Equifax, a score of 531 to 670 is considered 'good'.
The average credit score in the UK with Experian is 759.
380-419 is considered a fair score. A score of 420-465 is considered good. A score of 466-700 is considered excellent (reference: https://www.finder.com/uk/equifax).
Our Credit Monitor service uses credit information from TransUnion, where scores range from 0 to 710 and a very good score would be anything from 604 and above.
A credit score of 800 means you have an exceptional credit score, according to Experian. According to a report by FICO, only 23% of the scorable population has a credit score of 800 or above.
Equifax: Good – 661 to 734; very good – 735 to 852; excellent – 853-1,200. Experian: Good – 625-699; very good – 700-799; excellent 800-1,000. Illion: Good – 500-699; great – 700-799; excellent – 800-1,000.
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.
Although ranges vary depending on the credit scoring model, generally credit scores from 580 to 669 are considered fair; 670 to 739 are considered good; 740 to 799 are considered very good; and 800 and up are considered excellent.
Experian scores your credit out of 999 (with anything over 880 being 'good'), whereas Equifax scores your credit out of 700 (with anything higher than 420 being 'good').
Equifax Ltd is one of the Equifax group companies based in the UK. Equifax Ltd is authorised and regulated by the Financial Conduct Authority.
Neither score is more or less accurate than the other; they're only being calculated from slightly differing sources. Your Equifax credit score is more likely to appear lower than your TransUnion one because of the reporting differences, but a “fair” score from TransUnion is typically “fair” across the board.
The average credit card debt by age in the UK is £5,400. This means that the average person has a total of £1,600 in credit card debt at any one time. If you don't pay off this debt, it will have a big influence on your life.
Experian puts the average credit score in the UK for 2023 at 797, which is fair. Lenders still have to decide what they consider acceptable to them or otherwise.
A good credit limit is above $30,000, as that is the average credit card limit, according to Experian. To get a credit limit this high, you typically need an excellent credit score, a high income and little to no existing debt. What qualifies as a good credit limit differs from person to person, though.
Your Equifax score
ClearScore gets your credit score and report from Equifax. Depending on the date of your report, there could be slight differences in the score we have and the one Equifax has.
Is a 900 credit score possible? Depending on the type of scoring model, a 900 credit score is possible. While the most common FICO and VantageScore models only go up to 850, the FICO Auto Score and FICO Bankcard Score models range from 250 to 900.
Your score falls in the range of scores, from 800 to 850, that is considered Exceptional. Your FICO® Score and is well above the average credit score. Consumers with scores in this range may expect easy approvals when applying for new credit. 21% of all consumers have FICO® Scores in the Exceptional range.
The average credit score among Australians is 846 according to credit reporting company Equifax. That means on average Australians have a 'very good' credit score. Women (858) have a higher average credit score than men (836), while the average credit score is higher for older Australians.
Less than 21% of people have a credit score in the 800-850 range. An 800+ credit score, such as 835, is considered perfect credit, indicates a borrower uses credit responsibly, and qualifies the person for the best loan and credit card terms.