What is Credit Scoring?

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Your Credit Score

Your Credit Score is a number that sums up the credit information on your Credit Record. Lenders often use the credit score and the financial history in your Credit Report to decide whether they consider you a good or bad credit risk. It may also help them determine what interest rate to give you.

Credit Agency Credit Score

Credit Agencies like Experian or Equifax will often calculate a credit score for all adults in the UK. Your score takes into account information from the electoral roll, insurance companies, lenders and other public sources. Different Credit Agencies have different Credit Scoring systems and will often give you different Credit Scores.

Credit Issuer Credit Score

When you apply for credit, lenders will typically calculate a Credit Score for you, based on the information in your application and your Credit Record. Your Credit Score is determined by each separate lender making their own judgements on this information. There is no such thing as a standard Credit Score, a universally agreed credit rating system or a credit blacklist.

That means if one credit issuer declines your application, it doesn't automatically mean another one will. They all score you differently even though the information they use from your Credit Record to reach that judgment is the same for every credit issuer.

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You may be surprised to find you are not alone. We may be able to recommend a solution to your problem.

Aquis Credit Card

Aquis is designed for people who’ve had minor setbacks in their recent credit history — or have maybe been refused credit from high street banks. We will look at your situation as an individual and give you the chance to get back on track with a new credit card and build your credit rating.
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29.8% APR (variable)
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Vanquis Credit Card

Vanquis specialise in helping people to build or rebuild their credit rating. Maybe you’ve been turned down for a Credit Card or a loan in the past. We understand that situations change, so we look at your position now — not just your past history. We help you to carefully manage your account and to increase your available credit over time.
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39.9% APR (variable)
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