MSE News: Your Experian credit score might be about to drop

MSE_Kit

Credit reference agency Experian will soon give you a credit score out of 1,250, instead of the current 999, it has announced. Yet, while your Experian credit score's likely to drop as a result of the change, this WON'T affect the underlying data on your credit report – and it's that data (not your score) that lenders use to decide whether to offer you credit.

Read the full story: 

'Your Experian credit score might be about to drop – but remember it's what's on your credit FILE that really counts'

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Grumpy_chap

Why would the change mean the "score" drops?
One would assume that behind the number it is a percentage, so an individual with a score of 800 out of 999 would become 1,001 out of 1,250?

mjm3346

Your meaningless Experian credit score may drop - yes the number they make up may change

nrmsmith

My category description will drop from Excellent to Fair.  Which is just not Fair!  But at least it gives the lie to how pointless it all is/was.

dumpster_fire2025

nrmsmith said:

My category description will drop from Excellent to Fair.  Which is just not Fair!  But at least it gives the lie to how pointless it all is/was.

Lenders don't care about how a non-lender views your creditworthiness. They make their own judgements based on the data.