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Funnily enough, despite the advertising, there really is no such thing as a Credit 'Score' in the UK. Lenders get information about you from a Credit Reference
by xen0 5y ago
Funnily enough, despite the advertising, there really is no such thing as a Credit 'Score' in the UK.
Lenders get information about you from a Credit Reference Agency and will have their own internal systems to make decisions based on that. You can ask the reference agency for a copy of your credit report.
- TheOtherHobbes 5y agoThe three "score" sites are partnered - and possibly funded - by Experian, TransUnion, and Equifax. The "scores" are only loosely related to actual credit ratings, which are somewhat context/application dependent. In reality the sites are mostly just marketing fronts for various consumer services - credit cards, loans, mobile and energy contracts, and so on. They're notoriously aggressive about getting you to log in and keep checking your score. Partly because this looks good for partner engagement metrics, but also because it trains you to keep checking your score in an obsessive and gamified way.
- xen0 5y agoI briefly worked in that space for my first job; a small company that would essentially resell you your own credit report for a 'not insignificant" monthly subscription. The TV advertising for credit score checking was just about to start around then as far as I could tell.