When you apply for credit, companies call upon your Data Self to decide whether to lend to you. It's made up of things like your credit history and your financial information. Your Experian Credit Score is a representation of your credit history, and knowing your free score gives you an idea of how lenders may view your Data Self.
A credit score is a number that reflects the likelihood of you paying credit back. Lenders like banks and credit card companies will look at your credit history when they calculate your credit score, which will show them the level of risk in lending to you. The higher your credit score, the more chance of being accepted for credit, at the best rates.
Your credit score influences your chances of getting:
Whenever you apply for credit, the lender will check your borrowing history and how you typically repay money you’ve borrowed. This happens when you apply for credit such as a loan, credit card, mortgage, car finance… even a mobile phone contract.
They’ll look at your credit history which is based on your credit report and will show things like if you have a mortgage, how much you owe on credit cards and if you’ve missed payments in the past.
This is combined with the other information you fill in on the credit application form, and past information they’ve got on you (for example, if you’re an existing customer) the lender will then decide if they’d like to lend you money.
Each lender uses a slightly different lending criteria, so make sure you look around for a deal that you’re more likely to be accepted for†† as well as being best suited to you and your credit history.
The Experian Credit Score runs from 0-999 and is based on the information in your Experian Credit Report. The higher your score, the greater the chance you have of getting the best credit deals.
We believe that your Experian Credit Score is the only score that matters, and it should be free forever. We’re able to provide your Experian Credit Score for free because we receive commission from some lenders and brokers when you use our comparison services, and click through to their site or make an application. This works in the same way as most of the insurance and utility comparison sites you’re probably familiar with.
Your FREE Experian Credit Score is updated every 30 days if you login. The Experian Credit Score categories are shown below:
961 - 999
You should get the best credit cards, loans and mortgages (but there are no guarantees).
881 - 960
You should get most credit cards, loans and mortgages but the very best deals may reject you.
721 - 880
You might get OK interest rates but your credit limits may not be very high.
561 - 720
You might be accepted for credit cards, loans and mortgages but they may have higher interest rates.
0 - 560
You’re more likely to be rejected for most credit cards, loans and mortgages that are available.
We are a credit broker not a lender †