Credit Score Basics > What is the average UK credit score?

What is the average UK credit score?

Wollit Team2 minute read · Updated 2nd July 2024

The average credit score in the UK varies depending on which credit reference agency you ask, since they use different calculations and credit score ranges. It also varies based on which region, age, or income group you look at.

What is the Equifax average credit score?

According to Equifax, the average credit score in the UK is 644 out of 1000. However, there is a big variation between the results. At one end around 5.6 million people are apparently "credit invisible". This means they don't have an established credit history and are not included in standard credit scoring models. Another 20% have a poor credit history. At the other end, though, more than 1 in 4 Brits (27%) have an excellent credit score.

What is the Experian average credit score?

Experian publishes average credit score data based on location and age group through an interactive credit map on their website. The average score among all of its customers is 759 out of 999, which also falls in the “Fair” band.

What is the TransUnion average credit score?

TransUnion has not released a detailed breakdown of their average credit scores. However, they do acknowledge that people residing in the Kingston-upon-Thames neighbourhood of London hold the highest average score of 547 out of 710.

What is the average credit score by age group?

The average credit score varies by age group. According to Experian, the average credit scores based on age group tend to start high, drop around middle-age, then climb back again:

• 18 to 20-year-olds: 823
• 21 to 25-year-olds: 792
• 26 to 30-year-olds: 776
• 31 to 35-year-olds: 770
• 36 to 40-year-olds: 779
• 41 to 45-year-olds: 792
• 46 to 50-year-olds: 804
• 51 to 55-year-olds: 819
• Age 55+: 863.

How about the average credit score by region?

The average credit score also varies by region. According to Experian, the highest average credit scores can be found in the following areas:

• City of London: 893
• Isles of Scilly: 886
• Wokingham: 880.

The lowest average Experian credit scores can be found in the following areas:

• Kingston-upon-hull: 702
• Blaenau Gwent: 707
• Blackpool: 713.

Why should I care about the average credit score in the UK?

You shouldn’t. It’s just a bit of fun knowing it.

At the end of the day, what matters is that you keep improving it so you can qualify for better financial products and pay less in interest. For example, moving your credit score from one band to a higher one could save you up to £90,000 for a typical 30-year mortgage taken for a fairly average £500,000 property.

This is why it’s so important to focus on building and improving your credit score. The good news is that now there are many apps that can help you build and improve credit. One such app is Wollit.

Wollit works by reporting a fixed-fee monthly subscription as a loan repayment to all credit reference agencies. This helps you build a history of timely debt repayments, which is the main factor that matters for your credit score.

Checking statistics about the average credit score can be interesting, but if you’re looking for an app that can actually improve your personal credit score, you might get more mileage from a credit-building app like Wollit.

• Credit Reference Agencies