What is a good/bad credit score?

There’s no one answer. Different banks, lenders and credit reference agencies will score you in a different way.

The same bank may even give you a different score for when you apply for different financial products (e.g. one score for a credit card application and a different score for a mortgage).

However, the higher the score, the better, and you are more likely to be given credit.

A higher score also means that you could be eligible for better interest rates and better deals when borrowing money or taking out a mortgage.

ClearScore shows you your Equifax credit score and reflects the different scoring systems used by banks and lenders. The score goes from 0 to 700.

We put your score into different bands depending on how high it is:

These bands are an indication of how good your credit score is, however the score that we show you, just like any other score, is just a guide and even people with the highest credit score can be rejected for credit.

There are a number of factors that contribute to your credit score, so it’s important to understand what these are.

From here, the best way to build and protect your credit score is to responsibly manage your finances and debt. It means always paying on time and using a small percentage of your available credit. If you have a thin file (empty looking financial history), the easiest way to build credit is with a credit card. Spend a small amount every month and always pay it back in full – this will show up on your credit report, proving that you can manage your credit responsibly.

If you manage your finances sensibly, aren’t too reliant on credit, and you can prove your identity (e.g. being on the electoral roll), you’ll be in good shape to get the credit you want.