Finance glossary
Credit Score
Also known as: Credit rating
In simple terms
A credit score is a number that sums up how you have handled credit in the past, used as a rough guide to how likely you are to repay. There is no single official score — each company works its own out differently.
On this page
What does credit score mean?
A credit score is a number that reflects how you have managed borrowing and bills — whether you pay on time, how much you owe and how you use credit. Lenders use it to help decide whether to lend to you and on what terms.
Importantly, there is no single, official credit score. Each of the three credit reference agencies calculates its own score on its own scale, and lenders often ignore those numbers entirely and run their own scoring on the underlying data. So the “score” you see is only ever a guide.
How a credit score works
A score is built from information on your credit file: your repayment record, how much of your available credit you use, how long your accounts have been open, recent applications, and any defaults, arrears or County Court Judgments. Being on the electoral roll and having stable, settled details also helps.
Because each agency and lender weighs these factors differently, you can be accepted by one lender and declined by another with the same file. A high score with one agency does not guarantee you will be accepted anywhere.
How could this affect me?
A stronger track record generally means more choice and lower interest rates; a weaker one can mean higher rates or being turned down. Simple habits — paying on time, keeping balances low and being on the electoral roll — improve your standing over time.
You cannot pay to have a “good score” added to your file, and no legitimate firm can remove accurate negative information early. Building a positive history steadily is the only real fix.
Things to watch out for
- There is no single official credit score — the number you see is not what most lenders actually use.
- A high score with one agency does not mean you will be accepted by every lender.
- Firms that promise to “boost” or “repair” your score for a fee cannot remove accurate information.
- Checking your own score is a soft search and never harms your file, however often you do it.
General information, not personal advice
Consumer Credit is an independent information service. We do not provide regulated financial advice or sell financial products. For advice on your own situation, speak to an appropriately authorised firm or a free service such as MoneyHelper. About Consumer Credit.
Sources
We checked this page against these official and authoritative sources.
- MoneyHelper, How to improve your credit score (opens in a new tab). Accessed 22 Aug 2026.
- Information Commissioner’s Office, Credit reference agencies and your data (opens in a new tab). Accessed 22 Aug 2026.