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What is a good credit score?
There is no magic score to aim for, because every bank, financial institution and credit reference agency will score you differently. They may even calculate your score for different products differently, e.g. the same bank could give you one score for a credit card application and a different score for a mortgage.
However, if you have a high score you are more likely to be given credit.
Your Experian Credit Score is based on the information in your Experian Credit Report. It is a number between 0-999, with 999 being the best score you can get. We also tell you whether your score is very poor, poor, fair, good or excellent, to give you an idea of what your score means.
The Experian Credit Score is a reflection of the various scoring systems currently in use by the major banks and financial institutions, and provides a guide to how they will see you. However, it is just a guide and even people with an Experian Credit Score of 999 can be rejected for credit.
The key to ensuring you are in the best possible position when you apply for any kind of credit, is to understand your Experian Credit Report, and the 15 elements of it that make up your report. Each of these 15 areas can be having a positive or negative effect on how you are viewed. Essentially, if you manage your finances responsibly, and you are not reliant on credit, and you are easily identifiable (e.g. you are on the electoral roll and have a thorough address and credit history), this will stand you in good stead for getting the credit that you want.