By typing in your postcode, you can see how your credit rating compares to other people in your area.Īccording to Experian's data, not only does credit score vary by location, it varies by age too. If you'd like to see the average credit score in your town or city, take a look at Experian's average credit score map. While the lowest average Experian credit scores can be found in these areas: It's unclear what the average TransUnion credit score is because this credit reference agency hasn't released a detailed breakdown of how their scores compare to others.Īccording to Experian, the highest UK average credit scores can be found in these areas: The worst credit scores were in Wolverhampton (328.16) and Motherwell (325.67). Residents in Lerwick were second with an average credit score of 395.96. Kingston upon Thames in London was in the top spot for the second year in a row, with an average credit score of 400.16. The highest-ranking areas tended to be in the south of England. The data was provided by ClearScore and involved analysing more than five million customers over the course of a year.ĬlearScore generated a list of postcodes with the highest and lowest average credit scores. This was a significant leap from an average credit rating of 346 the previous year. 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. The credit referencing agency had previously said its new system would create more accurate credit scores.When people talk about their credit rating, they often think there is one universal credit score. Instead, each lender has its own checks when deciding whether or not to accept you as a customer - they may check just one, or all three of the major agencies.Įxperian has a credit rating scale of between zero and 999, while TransUnion goes up to 710.īoth Experian and TransUnion have a “very poor” category but they don’t rank scores as “very good” like Equifax. There isn’t a universal credit score for every person. The new Equifax credit system will create a completely new score for you.įor example, if you had a score of 467 previously – in the "excellent" band – a spokesperson for Equifax says it is likely your score will increase to somewhere between 8 and therefore remain in the excellent band. With the new scale, a "poor" rating is between zero and 438 points with the next barrier being "fair", which is from 439 to 530 points.Īn "excellent" rating on the old Equifax scale was between 467 to 700, while on the new one it is 811 to 1,000. Previously, a "very poor rating" was between zero and 278, while "poor" was from 279 to 366. Under the old system, users were scored out of 700 - but now the rating now goes up to 1,000.
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