Tag Archives: Experian

What’s the average Experian Credit Score where you live?

Average Experian Credit Score in Edinburgh What’s your Experian Credit Score?  We wanted to see if there were any significant differences in the average Experian Credit Score in different UK cities – from a variety of locations.

The Experian Credit Score runs from 0-999, and usually a higher score means you’re seen as lower risk, which means you could be more likely to get a credit card, a loan or a mortgage, and at better rates too.

You may have seen some of our posters beside major roads, or if you’re in London, on tube platforms. If you have, I hope you saw your local area listed!

We looked at the average Experian Credit Score in ten of the largest local authority areas outside of London, based on Experian customers who joined between January and September 2016. Continue reading

Spreading the cost of Christmas shopping

friends-shopping-xmas-300Most of us spend more in the immediate approach to and during the festive period than we normally would, so it’s probably a good idea to budget in advance and put some money aside – so that come mid-December, you don’t have to dig too much into money you either don’t have, or money you’re going to need in January.

Here are five things that might be worth thinking about:

  1. Christmas is a prime time for buying things that are either unwanted, don’t work properly or don’t fit. But… buying on credit can give you protection. If you buy goods or services on your credit card, you have extra protection if things go wrong, compared with paying by cash or even debit card, under section 75 of the Consumer Credit Act. Continue reading

How you could avoid Identity Fraud

Scary Monster Halloween Hands Use Laptop Computer with Blank ScrOnce online identity fraudsters have enough of your personal details, they can apply for credit in your name and run up debts without you knowing.

The number of victims of fraud has increased by 63% over the last 5 years, based on cases dealt with by the Experian Victims of Fraud team. In fact, 7% people of UK adults say their personal details have been used to commit fraud.*

What you can do if you suspect identity fraud
A first step is to contact Action Fraud – the UK’s national fraud and internet crime reporting centre, then inform a credit reference agency, such as Experian, as they hold your credit report.

If you are concerned that one or other of your online accounts has been compromised, then it is worth changing your password(s) to a new one as soon as you are able, and try not to use the same passwords for different accounts, especially those with financial information.

Continue reading

Wedding guest: how much does it cost?

Being a wedding guest should be great fun, but for some of us the ‘wedding season’ can be a source of financial pressure and domestic strife.

In this week’s news, one wedding guest said on the Mumsnet forum she was left ‘utterly gobsmacked’ after being asked to ‘adjust’ the £100 cheque she’d sent, the bride and groom emailing her with the suggestion her gift wasn’t generous enough. The post has so far got over 1,000 replies, the vast majority in support.

An Experian survey* in August 2015 suggested that the rising cost of weddings can rock the boat for many couples, and not just for the bride and groom.
Wedding guest infographic-600

Continue reading

Ask James: latest credit questions answered here

Every month Experian’s James Jones answers a selection of your questions about credit and fraud in his ‘ask the experts’ style column here.

Among the new questions, there is Should a default still be showing on my credit report?, about an old default that was due to disappear.

There is also a query about car finance and credit scoring,  Will voluntary termination of car finance affect my credit score?, and another relating to a debt relief order, Why is my debt relief order still affecting my credit rating?.

You can also find archived Ask James questions arranged under subject headings such as ‘applying for credit’, ‘credit and debt’ and ‘fraud’ at the main Ask James page.

If you have a specific question and can’t find an answer here or you wish to contact us to query something on your credit report, please use our customer service contact form.

Watch James talk to Experian Experts blogger Darren about retirement and your credit report.

Understanding children’s behaviours and attitudes to money

DESIGN-418-attitudes-behaviours-mar16At what age do children really understand the value of money? Experian research* found that 65% of parents of 5-9 years olds are confident their child has a good appreciation of the value of money, while 69% think their child has a good appreciation of the difference between a necessity and a luxury.

However, by the time those children get to the 15-18 age bracket – a time when they are mostly spending money themselves and in many cases earning it – 20% of parents are not confident their child has a good appreciation of the value of money.

Continue reading

Should children ‘learn to earn’ their pocket money?

Did you do the odd chore to earn your pocket money when you were younger? 

DESIGN-418-pocket-money-600Sarah Willingham, consumer champion, mum of four and BBC Dragon has called for British parents to rethink how they give pocket money to their children with Experian research finding that 85% of British children that receive pocket money don’t always have to earn it.[1]

Sarah told us: “Pocket money is often the first experience children have of managing money, and I’d like us, as parents, to take a more active role in teaching our kids the importance of earning their pocket money and saving for the things they’d like. Continue reading

What age do children develop their attitudes to money?

children-age-7-money-400Although financial education became a compulsory part of the secondary-school curriculum in England in 2014, some pupils are still missing out, particularly in primary schools.

University of Cambridge research, commissioned by the Money Advice Service, shows that by the age of seven children have developed their attitudes and values towards money – and these are likely to stay with them for life. Continue reading

Safer Internet Day 2016

Safer Internet Day 2016

Safer Internet Day 2016

February 9th marks the thirteenth annual Safer Internet Day (#SID2016), a day dedicated to finding out how we can help make the internet a safer place.

Safer Internet Day, organised by Insafe in February of each year, has the target of promoting safer and more responsible use of online technology and mobile phones, especially among children and young people across the world.

This year’s campaign slogan and theme is “Play your part for a better internet.” Continue reading

Chinese New Year: Pay off your debts

chinese-new-year-300Did you know the Chinese New Year takes place on Monday 8 February?  The 12 cycles of the Chinese Zodiac calendar are of course represented by animals, and this year it’s the Year of the Monkey.

Among several traditions surrounding Chinese New Year, one is to pay all your debts.  This is because there is a belief held by some that if you don’t pay off debts ahead of the New Year, then you might find that you’ll end the year in similar shape.

One place to start dealing with debt is to check what’s on your credit report. Continue reading