How is your credit score calculated?
Updated over a week ago

The 3 main Credit Referencing Agencies; Experian, Equifax and TransUnion, use different methods for working out an individual's credit score so there isn’t a single ‘magic number’ you can aspire to.

However, below are the 5 key things that make up your credit score;

  • Address history

    • Your current address and any previous addresses.

  • Credit history

    • Financial credit agreements, such as loans, credit cards, mortgages, overdrafts, mobile phone contracts, car finance and any late or missed payments.

  • Credit applications

    • The number of applications for credit you have made, including those where you have been rejected.

  • Public Records

    • Electoral roll information, any county court judgments (CCJs), bankruptcies or insolvencies.

  • Financial ties

    • This includes anyone you have taken out joint credit with – for example, a joint mortgage or bank account.

Factors that don’t affect your credit score

The following factors do not count towards your credit score;

  • Student loans

  • Medical records

  • Parking fines

  • Employment history

  • Council tax

  • Savings accounts

Visit our blog for more information on your credit footprint.
Things that don’t impact your score

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