We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Newbie with credit score variance between providers
Savvy1979
Posts: 1 Newbie
Hi
This is my first post so please be gentle
I decided to take a look at my credit report and credit score and chose Equifax as the provider.
The outcome was a score of 524 which is labelled as "excellent" and says its above the UK average of 430.
Great I thought, but then when I did a Google search to see where that compares to other scores and I came across a various sites which stated that anything below a score of 560 was classed as "very poor" :eek:
How can there be such a huge difference in scoring when I went through a well known credit referencing provider and also that all scores should be technically derived from the same pool of information?
Any help or pointers would be great
Regards
John
This is my first post so please be gentle
I decided to take a look at my credit report and credit score and chose Equifax as the provider.
The outcome was a score of 524 which is labelled as "excellent" and says its above the UK average of 430.
Great I thought, but then when I did a Google search to see where that compares to other scores and I came across a various sites which stated that anything below a score of 560 was classed as "very poor" :eek:
How can there be such a huge difference in scoring when I went through a well known credit referencing provider and also that all scores should be technically derived from the same pool of information?
Any help or pointers would be great
Regards
John
0
Comments
-
You should take no notice whatsoever to any score a CRA as given or sold you as lenders have their own unique scoring system and wouldn't care less what Experian or Equifax scores you and they wouldn't see the meaningless score either."You know when it's cold outside when you go outside and it's cold"0
-
The scores are meant as guides for you and don't easily compare because they operate on different scales. More details in this Q&A.
James“Official Company Representative
I am an official company representative of Experian. MSE has given permission for me to post in response to queries about the company, so that I can help solve issues. You can see my name on the companies with permission to post list. I am not allowed to tout for business at all. If you believe I am please report it to forumteam@moneysavingexpert.com This does NOT imply any form of approval of my company or its products by MSE"
Posts by James Jones, Neil Stone, Stuart Storey & Joe Standen0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards