In 2018, Which reported that the UK's average Equifax credit score was 380. Since people were unable to spend money on nights out, meals in restaurants and foreign holidays during the early stages of the pandemic, many people found it easier to save money and reduce their debt.Įxperian's analysis is the most comprehensive study of the nation’s credit scores, but how do other credit reference agencies compare? This compares to an average score of 792 in 2020 and 776 in 2019.Įxperian suggests COVID-19 may have played a role in the increase. The average Experian credit score is 797, according to data from October 2021. So, let's take a look at the average credit score of each of the three credit bureaus. Lumping the scores from all three credit rating agencies together would be ineffective to measure the average. This means that the UK average score varies from one company to the next. However, each credit reference agency is regulated by the Financial Conduct Authority (FCA) meaning you can enjoy peace of mind that you're being assessed fairly and within reason. There are three main credit reference agencies in the UK (Experian, Equifax and TransUnion) and each one has a different method for scoring individuals set on different ranges.
What is the average credit score in the UK?Īs an example, Experian's maximum credit score is 999, Equifax's maximum credit rating is 1,000 and TransUnion's maximum score is 710. There is no universal credit score and there’s more to your credit file than the number at the top of it.ĭid you know that you have three different credit scores? Read on to learn more and find out what is the average credit score in the UK.
In reality, this isn't an accurate portrayal of how credit scores work. They might assume that if their credit score is 900 and their friend's credit rating is 710, they have a better chance of taking out loans or credit cards than their friend does. When people talk about their credit rating, they often think there is one universal credit score.
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