There are three main credit reporting agencies , including Experian, Equifax, and illion. ClearScore takes your credit report and financial information from Experian and illion, then uses that very information to generate its own score.
In March 2018, Experian announced plans to acquire ClearScore for £275 million ($366 million). The acquisition was abandoned in February 2019 after the UK's Competition and Markets Authority (CMA) indicated that they considered that the acquisition would reduce competition in the UK market.
ClearScore gets your credit score and reports from TransUnion. Depending on the date of your report, there could be slight differences in the score we have and the one TransUnion has.
No, you can check your credit score and report on ClearScore as often as you like and it won't affect your score at all. When a new report is generated, a 'soft' search will appear on your credit report. This is only visible to you, won't affect your score and will be removed after 1 year.
Simply put, there is no “more accurate” score when it comes down to receiving your score from the major credit bureaus. In this article, you will learn: Different types of credit scores.
ClearScore takes your credit report and financial information from Experian and illion, then uses that very information to generate its own score. While the credit scores can vary slightly depending on the credit reporting agency, the same rule follows for all scores – The higher the better.
With ClearScore obtaining their credit information from Equifax, you can be sure that what you're seeing is accurate and correct.
If you're looking for more personalised financial advice and credit product comparisons, Experian may be the better option for you. On the other hand, if you prefer a more user-friendly interface and a visual timeline of your credit history, ClearScore may be the better choice.
Lenders use Equifax or one of the other CRAs to make decisions about whether to lend you money - they don't use ClearScore. Equifax, like lenders, use your most up-to-date information.
ClearScore gets your credit score and report from Equifax. Depending on the date of your report, there could be slight differences in the score we have and the one Equifax has. Lenders can use any of the credit reference agencies to check your credit score in the UK.
Fair (439 - 530) Good (531 - 670) Very Good (671 - 810) Excellent(811 - 1,000)
Your credit report and score is provided to us by Equifax.
Your credit score is calculated by a credit reference agency (CRA). There are three CRAs in the UK: Equifax, Experian and TransUnion. At ClearScore, we show you your Equifax credit score, which ranges from 0 to 1000. Each CRA is sent information by lenders about the credit you have and how you manage it.
Credit scoring models can weigh certain information in your reports more heavily than other credit score factors. For example, one scoring model may put more emphasis on total credit usage than others. Because there are varied scoring models, you'll likely have different scores from different providers.
###Financial services registration ClearScore is authorised and regulated by the Financial Conduct Authority ("FCA") under reference number 654446. Our permitted business includes Credit Information Services and Credit Broking. We will promptly advise you if at any time our authorisation is removed or suspended.
FICO, Experian, and Equifax all provide information on individuals' credit habits for the use of lenders. FICO provides just a numerical credit score, based on an individual's payment habits and the amount of debt that they carry. Credit bureaus like Experian and Equifax offer detailed credit histories on individuals.
Put simply, your credit score can go down if a lender reports any 'negative' information to the credit reference agencies (CRA). If the new information the lender reports to the CRA makes you seem like a less reliable borrower, it can cause your score to drop.
Clearscore's basic services are free for life. Clearscore sometimes needs basic details about which bank you're with in order for you to sign up. For instance, Clearscore might ask you to confirm the first two digits of your banking sort code and last six digits of your account number.
Linking your bank account to ClearScore is a secure and easy way to verify your identity. It won't affect your credit score and you can unlink it at any time. Your money is safe.
The primary credit scoring models are FICO® and VantageScore®, and both are equally accurate. Although both are accurate, most lenders are looking at your FICO score when you apply for a loan. There's a lot to learn about credit scores and credit reports and having more than one credit score can get confusing.
There isn't one “more accurate” report. The most accurate report in any individual case is the one that has the most complete information. Creditors don't have to report to any of the credit bureaus, and they certainly aren't required to report to all of them. Some lenders only report to one or two of the bureaus.
FICO® Scores☉ are used by 90% of top lenders, but even so, there's no single credit score or scoring system that's most important. In a very real way, the score that matters most is the one used by the lender willing to offer you the best lending terms.
According to Darrin English, a senior community development loan officer at Quontic Bank, mortgage lenders request your FICO scores from all three bureaus — Equifax, Transunion and Experian. But they only use one when making their final decision.
We provide a score from between 0-999 and consider a 'good' score to be anywhere between 881 and 960, with 'fair' or average between 721 and 880. Before you apply for credit, it's a really good idea to check your free Experian Credit Score, so you can make more informed choices when it comes to applying for credit.