Get Unlimited Access to Your Daily Updated Experian Credit Report and Score
Experian will help you understand your Experian Credit Report, show you how you may be able to improve your Experian Credit Score and help you detect signs of identity theft. Only £14.99 a month after your 30-day trial. For CreditExpert a monthly fee of £14.99 applies after your free trial. You may cancel during your 30-day free trial without charge.
New customers only. Free trial period starts on registration - further ID verification may be required to access full service which may take up to 5 days.
CreditExpert monitors your Experian Credit Report and alerts you to certain changes which may indicate potential fraudulent activity.
What is a Credit Report?
It details your personal credit information, for example how you are managing credit cards, mortgages, loans catalogue accounts and mobile phone contracts. It also includes a history of how you have managed accounts in the past 6 years.
Lenders use information from your credit report when they decide what kind of deal to offer you – or whether to turn you down.
The more you know about what your report contains, how it's used and what you can do to improve it, the better your chances could be of getting the credit you need. You can view your Experian Credit Report as often as you like.
What is a Credit Score?
Responsible lenders want to know that you can comfortably afford to manage any new borrowing, so they calculate a credit score that helps them to assess the likelihood that you will be able to repay what you owe.
To do this, they take all relevant information including things like your credit report and your application form. If you are an existing or past customer, they will also use their experience of how you've managed repayments with them in the past.
Why Should You Get a Free Credit Score Rating?
Regularly checking your credit score with a service like Experian offers numerous advantages that can help you maintain and improve your financial health. Here are some of the key benefits:
- Soft Credit Search: When you check your credit score through Experian, it’s done through a soft search. This means it won’t impact your credit rating, allowing you to monitor your score as often as you like without any negative effects.
- Free Tips and Guidance: Experian provides tailored advice to help you understand your credit score and suggests ways to improve it. This guidance can be invaluable in helping you secure better credit options and rates in the future.
- Data Security: Experian uses advanced data encryption technology to protect your personal information, ensuring that your details are kept secure at all times. They prioritise user privacy and never sell personal data to third parties.
- No Cost Involved: Accessing your credit score and report through Experian is completely free during the trial period, making it an accessible option for anyone looking to stay on top of their credit without additional financial burden.
- Quick and Easy: Checking your credit score with Experian is a straightforward process that only requires you to answer a few quick questions about your finances. You can view your score and report within seconds, making it a convenient tool for fast-paced lifestyles.
- Personalised Financial Offers: Based on your credit profile, Experian not only shows you your score but also suggests credit cards, loans, and mortgage deals that you’re likely to qualify for, helping you make informed decisions about applying for new credit lines.
What Does Your Credit Score Mean?
The Experian Credit Score runs from 0-999 and is an indication of how a lender may see you based on the information in your Credit Report. The higher your score, the greater chance you have of getting the best credit deals.
Very Poor: 0 to 560
Poor: 561 to 720
Fair: 721 to 880
Good: 881 to 960
Excellent: 961 to 999
How Well Will You Score?
You can get your Experian Credit Score and Report by taking a free trial of CreditExpert, where you can find out how you can manage and improve your Credit Score which could increase your chances of being offered great credit deals.
Alternative: One Off £2 Statutory Credit Report
The Experian statutory credit report contains a snapshot of your credit information. It contains public and private information recorded in your name which is available to authorised lenders that carry out a credit check through Experian. The information in your £2 Statutory Credit Report is the same information that is shown on your Experian Credit Report available as part of Experian CreditExpert.
Benefits of Increasing Your Credit Rating
Maintaining a good credit score offers several key benefits that can enhance your financial well-being and flexibility. Here are some of the primary advantages of having a strong credit rating:
- Better Loan and Credit Card Rates: A good credit score is indicative of a reliable borrower. Lenders are more likely to offer you competitive interest rates on loans and credit cards if your credit history demonstrates that you manage debt responsibly. This translates into lower costs for borrowing, saving you money over the lifetime of any loans or credit balances.
- Easier Approval for Financial Products: With a good credit score, you'll find it easier to get approved for various lending products, including credit cards, personal loans, and mortgages. Lenders see a good credit score as a sign of low risk, which makes them more comfortable extending credit.
- Lower Insurance Premiums: Many insurance companies check your credit score when you apply for policies where you pay monthly, such as car or home insurance. A higher credit score can qualify you for lower premiums because insurers often correlate good credit with lower risk.
- More Mobile Phone Options: Your credit score affects more than just loans and insurance; it also impacts getting a mobile phone contract. A high credit score gives you more flexibility in choosing how you want to finance your phone, such as on a contract basis with lower upfront costs. On the other hand, a lower credit score might restrict you to pay-as-you-go options, which typically require upfront payments and may offer less attractive terms.
How Can You Improve Your Credit Score?
If you've received your credit report information and aren't happy with your score, there are a few things you can do to boost it, including:
- Pay Bills on Time: Consistently paying your bills on time is one of the most impactful ways to boost your credit score. Late payments can significantly harm your credit rating, so setting up reminders or automatic payments can help you stay on track.
- Limit New Credit Inquiries: Every time you apply for credit, it can result in a hard inquiry, which may lower your score slightly. Be selective about when and where you apply for credit, and try to avoid multiple credit applications in a short period.
- Build a Long Credit History: The length of your credit history can affect your credit score, so keep older credit accounts open even if you’re not using them frequently. This shows a longer credit history and can positively influence your score.
- Register on the Electoral Roll: Being registered on the electoral roll at your current address can help credit agencies verify your identity and address, which can positively impact your credit score.
- Keep Balances Low: Try to maintain low balances on your credit cards and other revolving credit. High outstanding debt can negatively affect your credit score.
FAQs
How does a credit score work?
A credit score is a numerical representation of your creditworthiness, based on your credit history. It is calculated using data from your credit report, including payment history, amounts owed, length of credit history, new credit, and types of credit used.
Why is my credit score different according to another credit reference agency?
Different credit reference agencies may have different information about you, and they might use varying models to calculate your score. Each agency gathers data independently and may not have the same financial information, leading to discrepancies in scores. If you've noticed significant differences in your score between agencies, it could be worth updating your personal details or getting in touch.
Can I look at my credit report as many times as I want?
Yes, you can check your credit report as often as you like. Frequent checks do not impact your credit score, especially if you use services that perform soft checks.
What is a soft credit check?
A soft credit check is an inquiry that does not affect your credit score. It is usually done when a company checks your credit for pre-approval offers or when you check your own credit. Unlike hard checks, soft checks are not linked to an application for new credit.
What is a bad credit score?
A bad credit score typically falls below 560 on the Experian scale, which ranges from 0 to 999. Scores in this range may indicate to lenders that you are a high-risk borrower.
Can I still get a loan with a bad credit score?
Yes, it is possible to get a loan with a bad credit score, but your options may be limited. Loans offered to individuals with poor credit typically come with higher interest rates and less favourable terms to offset the higher risk to the lender. You'll need to get in touch with lenders to find out what your current borrowing power is.
How can I check my credit score for free?
You can check your credit score for free through a service like Experian CreditExpert, which provides a free trial. Additionally, some banks and credit card issuers now offer credit score access to their customers.
Can I get a loan from Experian?
No, Experian does not provide loans. Experian is a credit reference agency that offers credit reporting, credit scoring, and other credit-related services. While Experian can help you understand your credit score and provides tools to improve it, they are not a lender.