What's a good credit score? (UK)

Confused by what your credit score number actually means? It's hard to know if it is excellent, good, fair or poor.

And with three or four different scores available you can't compare one with another, or work out when you've managed to get a perfect credit rating - especially as they're all placed on ranges between 700 and 1,000.

Even once you've found all your scores and put them in the ratings bands, what does it even mean in terms of your chances of getting credit?

In this video I've explained how the three different credit reference agencies rank each score, and what it means for you.

W A T C H N E X T

How to check your credit score for free

Credit scores explained

Will switching bank hurt my credit score

#Creditscore #goodcreditscore #poorcreditscore

MORE

(You'll also get a free Quidco bonus for signing up)

A B O U T A N D Y

DISCLAIMER
Content in these videos does not constitute regulated financial advice. Any offers mentioned were correct at the time of filming.

[cbmateas]

In my student years I became more familiar with credit scores and I didn't like how much impact they have on your long term debt. For example I needed some urgent money to pay off some college fees so my best option was to take out a credit card. When you apply with a poor credit score you won't get much anyway and the interest will be quite high which makes paying the credit back that much harder and longer to achieve hence keeping you longer in debt and with a poor credit score. There should be more involvement and support from the banks as well when loaning to people with debt.

[nerdowlesa]

How can your credit score be this high when you are always switching banks?

[linkedinfred]

Andy, why can’t the 4 credit brokers have unified scoring if they are all using the FICO model?

[KaysFantasy]

@Alex Clever Cash
I was watching “This Morning” the other morning and that Martin Lewis says it’s not worth getting or even starting a Credit Score.🤔 Is it true? Should I still get a credit score?

[duckduckducky]

I am new to credit and was wondering if my late payments to Klarna was affecting my credit score so I checked. It said my credit score was excellent, however, I have never owned a credit card or taken out a loan besides my student loan. I was under the impression that no credit was bad and I would have to build it up with credit cards to get a good score? Or is it normal to start at an excellent score?

[peter]

please do a video on business credit score, how do we improve that

[djharun]

wake of prescribing this clasp to gain proficiency with some information about credit....

[Sam-pnkc]

can you bulid your credit score with American express basic card?

[JavierZamora]

Hello. I recently moved to UK and this thing about Credit score is quite confusing. I don’t need any loan but I am worried about the future so maybe I should start working on my credit score, just in case some day I need it. How can a new UK resident, who has moved from another country, start working on it? I would appreciate if someone gives me some information or tips about it. Thanks a lot!

[JMH]

Appreciate that this is a question on a old video but...would only using £10 on a £50 limit credit card give you the same credit points as using £1000 on a £5000 limit card as the percentages are the same? Only because I'm a newbie and need an entry level credit building card. Thanks

[SeniorFoxy.]

Hi i was wondering if there any way to check total credit score all in once for free:) 😅😅

[ggmma]

My credit with Experian is 974 and sour ClearScore 185 what on earth is causing this drastic difference can anyone help me

[MiniManMK]

Has anyone else noticed that your score goes up when you pay for Experian premium service?

[wexphil]

My credit score says bad at 680 how i make it fair all my bills paid etc

[andrei]

Hi,
I have an bank account that I don't really use and is the oldest account that I have, currently I use another bank. I've seen on credit report that an bank account over 5 years help me on my credit score. And I was thinking to close it, will be a good idea?

[chirushetty]

I too have credit score of 999 in Experian.

[peterellis]

I think it the whole system is wrong you should not have a credit score against you until you take out the credit I have a bad score yet I have a great income and in the last 10 years have not had any problems with my finances yet I don’t get the good rat it just a con

[MENSA.lady]

Best is ZERO. That can be achieved by not owning a credit card. Actually there at least 4 credit reference agencies in the UK but you need none of them.

[BrightRomeo]

I'm sure the top score 999 is a number chosen randomly. I happened to know a cult/religion that likes things up side down. Interesting.

[chawkialgeria]

How come I have an excellent credit score with Experian and fair with transUnion