Is my credit score 'good' or 'bad'?
The measurement scale used by each credit reference agency varies but, as a general rule, the higher the number, the stronger your chances are of being accepted when you make a credit application.
Having a low score doesn’t always mean an application won’t be accepted – lenders and service providers also consider other factors, like affordability and any past account history – it may just mean that you’re offered higher interest rates, and a more limited amount of credit.
Below are examples from the credit reference agencies Lloyds Bank use:
Experian
| Excellent | Very good | Good | Poor | Very poor |
|---|---|---|---|---|
Excellent961 - 999 | Very good881 - 960 | Good721 - 880 | Poor561 - 720 | Very poor0 - 560 |
Equifax
| Excellent | Very good | Good | Poor | Very poor |
|---|---|---|---|---|
Excellent811 - 1000 | Very good671 - 810 | Good531 - 670 | Poor439 - 530 | Very poor0 - 438 |
TransUnion
| Excellent | Good | Ok | Needs some work | Needs work |
|---|---|---|---|---|
Excellent628 - 710 | Good604 - 627 | Ok566 - 603 | Needs some work551 - 565 | Needs work0 - 550 |
