Improving credit scoring...

mattih5

Hi,

This seems like the most appropriate board to post in.

I've always maintained my credit file to the best of my ability but never checked the score of it. Before applying for a score from Equifax or Experian I decided to use the free `estimated` score from checkmyfile.co.uk.

The estimated score came back as 781 which I believe is fairly good.

I wondered if there is a way I could improve this or what would improve it?

CannyJock

mattih5 wrote: »

Hi,

This seems like the most appropriate board to post in.

I've always maintained my credit file to the best of my ability but never checked the score of it. Before applying for a score from Equifax or Experian I decided to use the free `estimated` score from checkmyfile.co.uk.

The estimated score came back as 781 which I believe is fairly good.

I wondered if there is a way I could improve this or what would improve it?

Start with the article http://www.moneysavingexpert.com/loans/credit-rating-credit-score and a copy of your actual credit report.

There's no such thing as a universal score - every lender has their own scoring criteria.

JohalaReewi

At least you had the sense not to pay for a random score and found a free one!

As CannyJock said. Every lender has thier own formula for calculating your score so different lenders = different scores. Lenders can also change their formula so you can also get same lender = different scores.

The credit reference agencies (equifax, experian, etc) are NOT lenders so the numbers they sell you are not even credit scores. Just random numbers. Don't pay for them.