What it means, who sets it, and how to improve it — in plain English.
6 min read • Published by Cash Train editorial team
A credit score is a number generated by a credit reference agency (CRA) to represent how creditworthy you appear based on your borrowing history. Lenders use it — alongside their own data — to decide whether to lend to you, and at what rate.
The score itself is not a fixed fact. It changes as your circumstances change, and each CRA produces its own version. When you apply for credit, the lender often only checks with one or two CRAs, and weighs your history against their own lending criteria. Two lenders can look at the same file and reach different decisions.
Largest CRA in the UK. Widely used by high street lenders and card providers.
Free via Experian appStrong presence with mortgage and auto finance lenders. ClearScore gives free ongoing access.
Free via ClearScoreUsed by many digital-first lenders and comparison platforms. Credit Karma shows your score free.
Free via Credit KarmaCRAs look at several factors. Here are the main ones, roughly in order of how much weight they typically carry:
Whether you've made payments on time, or missed them. A single missed payment can stay on your file for six years.
How much of your available credit you're using. Under 30% is generally considered good; under 10% is better.
Older accounts increase your score. Closing old accounts can therefore lower it.
Having a mix — credit card, loan, mortgage — can help. But opening new accounts just for variety is not recommended.
Hard searches (from new credit applications) stay on your file for up to 2 years and can suggest financial stress to lenders.
Credit scores improve gradually. There are no legitimate shortcuts. But there are proven steps:
Being on the electoral roll at your current address confirms your identity and address, and is one of the easiest quick wins.
Even one missed payment can stay on your file for six years. Automatic minimum payments on every account eliminate this risk.
If you have a credit card at 80% utilisation, paying it down to 30% can meaningfully improve your score within a month or two.
Every hard credit search adds a footprint. If you're rate-shopping, use soft search tools first. Try to limit hard searches to one or two per six months.
If you've shared an account with someone who has bad credit (e.g. a joint account with an ex), ask the CRAs to disassociate you.
Roughly 1 in 4 UK credit reports contain an error. Check all three CRAs and dispute any incorrect information — they must investigate within 28 days.
When you request a quote from Cash Train, we run a soft search only — invisible to other lenders, zero impact on your score. We only run a hard search if you accept an offer and formally apply. Even with an imperfect credit history, we assess your full affordability picture — not just a number.