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How can I improve my Experian Credit Score?

Your Experian Credit Score is calculated to give you an accurate idea of how you’re doing financially, and it is based on the credit report which most banks and financial institutions use.   

How can I improve my credit score?

There are many ways of improving your credit score, some as simple as registering on the electoral roll. Making payments on time and not opening new credit accounts will also make a big difference. The best way is to regularly check which score factors are affecting your credit report.

Look for the score factors increasing your credit score, learn what you’re doing right, and keep on doing it. Find out which score factors are decreasing your score, and follow our tips to correct them.

What Score Factors increase my credit score?

  • Electoral Roll
    • Make sure your current address is registered on the electoral roll and your credit score will increase.
  • Payments
    • Make all payments on time and in full and your credit score will quickly increase. If you have any outstanding payments, pay them off first.
  • Credit Accounts
    • The older your credit accounts get the more they increase your credit score, so if you’ve got older accounts, it’s a good idea to keep using these if you are able to, and avoid opening too many new accounts at the same time.
  • Credit Limits
    •  Staying well below your agreed credit limits will increase your score (e.g. if your credit card limit is £1000, try to keep the balance below £500).
    • The bigger the credit limit on a single credit card, the more your score will increase, so aim for one credit card with a big limit, rather than lots of cards with smaller limits.
  • Total Credit Balance
    • Keep the total amount you owe across all of your credit accounts (excluding mortgages) below £15,000. Paying off any one of your credit accounts will reduce your total credit balance and increase your credit score.
  • Available Credit
    • Paying off any one of your credit accounts will increase your available credit and increase your credit score.