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Understanding your credit score
Learn what your credit score means, how it's calculated, and why it matters for your financial future.
What is a credit score?
What is a credit score?
A credit score is a number that represents how reliable you are when borrowing money. It helps lenders decide whether to approve your applications for credit cards, loans, and mortgages.
In the UK, your credit score is calculated by three main credit reference agencies: Experian, Equifax, and TransUnion. Each agency has its own scoring system and range.
A credit score is a number that represents how reliable you are when borrowing money. It helps lenders decide whether to approve your applications for credit cards, loans, and mortgages.
In the UK, your credit score is calculated by three main credit reference agencies: Experian, Equifax, and TransUnion. Each agency has its own scoring system and range.
UK credit score ranges
UK credit score ranges
Each credit reference agency uses a different scale to calculate your score. Here's how they compare.
Each credit reference agency uses a different scale to calculate your score. Here's how they compare.
Equifax
Excellent: 811-1000
Excellent: 811-1000
Good: 671-810
Good: 671-810
Fair: 531-670
Fair: 531-670
Poor: 381-530
Poor: 381-530
Very Poor: 0-380
Very Poor: 0-380
Experian
Excellent: 961-999
Excellent: 961-999
Good: 881-960
Good: 881-960
Fair: 721-880
Fair: 721-880
Poor: 561-720
Poor: 561-720
Very Poor: 0-560
Very Poor: 0-560
TransUnion
Excellent: 628-710
Excellent: 628-710
Good: 604-627
Good: 604-627
Fair: 566-603
Fair: 566-603
Poor: 551-565
Poor: 551-565
Very Poor: 0-550
Very Poor: 0-550
What affects your credit score?
What affects your credit score?
Your credit score is calculated based on several factors from your financial history. Understanding these factors can help you improve your score.
Your credit score is calculated based on several factors from your financial history. Understanding these factors can help you improve your score.
Payment history
Making payments on time for credit cards, loans, and bills shows lenders you're reliable. Late or missed payments can significantly lower your score.
Payment history
Making payments on time for credit cards, loans, and bills shows lenders you're reliable. Late or missed payments can significantly lower your score.
Payment history
Making payments on time for credit cards, loans, and bills shows lenders you're reliable. Late or missed payments can significantly lower your score.
Payment history
Making payments on time for credit cards, loans, and bills shows lenders you're reliable. Late or missed payments can significantly lower your score.
Credit utilisation
This is how much of your available credit you're using. Keeping this below 30% of your limit shows lenders you're not overly reliant on credit.
Credit utilisation
This is how much of your available credit you're using. Keeping this below 30% of your limit shows lenders you're not overly reliant on credit.
Credit utilisation
This is how much of your available credit you're using. Keeping this below 30% of your limit shows lenders you're not overly reliant on credit.
Credit utilisation
This is how much of your available credit you're using. Keeping this below 30% of your limit shows lenders you're not overly reliant on credit.
Length of credit history
A longer credit history gives lenders more data to assess your reliability. Having older accounts in good standing can improve your score.
Length of credit history
A longer credit history gives lenders more data to assess your reliability. Having older accounts in good standing can improve your score.
Length of credit history
A longer credit history gives lenders more data to assess your reliability. Having older accounts in good standing can improve your score.
Length of credit history
A longer credit history gives lenders more data to assess your reliability. Having older accounts in good standing can improve your score.
Recent credit applications
Multiple credit applications in a short period can suggest financial distress. Each application typically results in a hard search on your credit file.
Recent credit applications
Multiple credit applications in a short period can suggest financial distress. Each application typically results in a hard search on your credit file.
Recent credit applications
Multiple credit applications in a short period can suggest financial distress. Each application typically results in a hard search on your credit file.
Recent credit applications
Multiple credit applications in a short period can suggest financial distress. Each application typically results in a hard search on your credit file.
Electoral roll registration
Being registered to vote at your current address helps verify your identity and improves your score. This is particularly important in the UK.
Electoral roll registration
Being registered to vote at your current address helps verify your identity and improves your score. This is particularly important in the UK.
Electoral roll registration
Being registered to vote at your current address helps verify your identity and improves your score. This is particularly important in the UK.
Electoral roll registration
Being registered to vote at your current address helps verify your identity and improves your score. This is particularly important in the UK.
Types of credit
Having a mix of credit types (credit cards, loans, mortgage) can positively impact your score if managed well, showing you can handle different forms of credit.
Types of credit
Having a mix of credit types (credit cards, loans, mortgage) can positively impact your score if managed well, showing you can handle different forms of credit.
Types of credit
Having a mix of credit types (credit cards, loans, mortgage) can positively impact your score if managed well, showing you can handle different forms of credit.
Types of credit
Having a mix of credit types (credit cards, loans, mortgage) can positively impact your score if managed well, showing you can handle different forms of credit.
What affects your credit score?
What affects your credit score?
Your credit score is calculated based on several factors from your financial history. Understanding these factors can help you improve your score.
Your credit score is calculated based on several factors from your financial history. Understanding these factors can help you improve your score.
Loan and credit card approval
A good credit score increases your chances of being approved for loans and credit cards with better terms.
Loan and credit card approval
A good credit score increases your chances of being approved for loans and credit cards with better terms.
Loan and credit card approval
A good credit score increases your chances of being approved for loans and credit cards with better terms.
Loan and credit card approval
A good credit score increases your chances of being approved for loans and credit cards with better terms.
Better interest rates
Lenders offer lower interest rates to borrowers with higher credit scores, saving you money over time.
Better interest rates
Lenders offer lower interest rates to borrowers with higher credit scores, saving you money over time.
Better interest rates
Lenders offer lower interest rates to borrowers with higher credit scores, saving you money over time.
Better interest rates
Lenders offer lower interest rates to borrowers with higher credit scores, saving you money over time.
Mortgage applications
Mortgage lenders use your credit score to determine if you qualify and what interest rate to offer.
Mortgage applications
Mortgage lenders use your credit score to determine if you qualify and what interest rate to offer.
Mortgage applications
Mortgage lenders use your credit score to determine if you qualify and what interest rate to offer.
Mortgage applications
Mortgage lenders use your credit score to determine if you qualify and what interest rate to offer.
Renting property
Many landlords and letting agencies check your credit score before approving your rental application.
Renting property
Many landlords and letting agencies check your credit score before approving your rental application.
Renting property
Many landlords and letting agencies check your credit score before approving your rental application.
Renting property
Many landlords and letting agencies check your credit score before approving your rental application.
Mobile phone contracts
Phone providers often check your credit score before offering contracts, especially for newer models.
Mobile phone contracts
Phone providers often check your credit score before offering contracts, especially for newer models.
Mobile phone contracts
Phone providers often check your credit score before offering contracts, especially for newer models.
Mobile phone contracts
Phone providers often check your credit score before offering contracts, especially for newer models.
Utility connections
Some utility companies check your credit score when you apply for services like electricity or broadband.
Utility connections
Some utility companies check your credit score when you apply for services like electricity or broadband.
Utility connections
Some utility companies check your credit score when you apply for services like electricity or broadband.
Utility connections
Some utility companies check your credit score when you apply for services like electricity or broadband.
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Ready to take control of your credit score?
Ready to take control of your credit score?
Download the Boshhh Money app today to check your credit score, get personalised improvement tips, and track your progress over time.
Download the Boshhh Money app today to check your credit score, get personalised improvement tips, and track your progress over time.
Frequently asked questions
Frequently asked questions
Frequently asked questions
Here’s everything you need to know about how Boshhh Money app works, from your scores to our credit-building SIM.
Is the Boshhh Money app free?
What is an affordability score?
Can I get my credit score in the app?
Can the app help me build my credit score?
Is Boshhh Money app safe and secure?
Is the Boshhh Money app free?
What is an affordability score?
Can I get my credit score in the app?
Can the app help me build my credit score?
Is Boshhh Money app safe and secure?
Is the Boshhh Money app free?
What is an affordability score?
Can I get my credit score in the app?
Can the app help me build my credit score?
Is Boshhh Money app safe and secure?
Is the Boshhh Money app free?
What is an affordability score?
Can I get my credit score in the app?
Can the app help me build my credit score?
Is Boshhh Money app safe and secure?
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Download the app to get your credit score and start to understand your affordability, all for free.
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Trustpilot
Feel in control of your money again
Download the app to get your credit score and start to understand your affordability, all for free.
Trustpilot
Feel in control of your money again
Download the app to get your credit score and start to understand your affordability, all for free.
10,519+ Users
Trustpilot
Feel in control of your money again
Download the app to get your credit score and start to understand your affordability, all for free.
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