Check my credit score > What does a score of 517 on ClearScore mean?

What does a score of 517 on ClearScore mean?

Wollit Team4 minutes read · Updated 2nd April 2025

A score of 517 on ClearScore puts you in the second-lowest credit score range, called “Fair.”

It’s important to remember that your ClearScore credit score comes from Equifax, the UK’s second-largest credit reference agency. Equifax is one of the three main such agencies, along with Experian and TransUnion.

Each agency has its own way of calculating credit scores, which is why you might see a different score on Experian than on ClearScore. This doesn’t mean one is more accurate than the other – different lenders use different agencies, so it’s a good idea to keep track of all of them.

Another key point is that credit agencies break their scores into bands to help you understand how lenders see you.

A “Fair“ credit score is the second-lowest rating you can get from Equifax, as shown on ClearScore. You fall into this band if your score is between 439 and 530. Experian and TransUnion have a similar range, but they call it “Poor.” For them, the “Fair” band is in the middle instead.

Is a 517 ClearScore rating good?

On ClearScore, a “Fair“ credit score tells lenders that you may have made some mistakes in the past, like missed payments or possibly a default. You can also have a “Fair” credit score if you just moved to the UK and don’t have many credit agreements yet – maybe just a bill in your name or a mobile phone contract.

Even so, lenders will still view you as a relatively risky borrower.

Here’s what you can expect:

• A low chance of credit approval, with most lenders asking for extra documents or even a guarantor.
• If you are approved, you’ll likely face higher interest rates, meaning higher monthly payments and more interest over time.
• Lower credit limits. For example, if you rely on a credit card to get through to payday, you might find that limit too low for emergencies. Also, maxing out a low-limit credit card can hurt your credit score even more.
• If you’re renting, letting agencies might ask for larger deposits.
• You could also face higher premiums for car, home, or life insurance.

In short, having a “Fair” credit score means you may still get approved, but you’ll likely get stuck with unfavourable terms. For example, you might get credit cards with APRs over 50%, £250 limits, and short interest-free periods. Not exactly a “fair” deal.

How to improve a ClearScore score of 517?

If your credit score is between 517, your main goal should be to prevent it from dropping further and to start improving it.

Here are some tips:

• Avoid applying for new loans unless it’s an absolute emergency. Every credit application results in a “hard credit check,” which temporarily lowers your score. Use eligibility checkers first to see your chances before applying.
• If you need emergency cash, ask friends or family first. Treat these loans formally by setting a repayment deadline and possibly a reasonable interest rate. You don’t want to damage your relationships. If you need a larger loan, you could also ask them to be your guarantors.
• If your poor credit is due to something beyond your control (like losing your job and defaulting), consider adding a Notice of Correction to your credit report. This is a 200-word note explaining the reason for the negative mark. It won’t improve your score, but it may help lenders understand your situation and be more lenient.

And above all, be patient – improving your credit will take time. Lenders focus more on your recent credit history, as well. While waiting, take steps to rebuild your score. Fortunately, there are apps that can help, like Wollit.

Wollit helps rebuild your credit by reporting your monthly subscription as loan repayments to all three major credit agencies, including Equifax, which ClearScore uses. This improves your credit history, the key factor affecting your score.

Additionally, Wollit can report your rent payments to your credit file. While this won’t appear in your ClearScore account (as Wollit reports rent to Experian), it can still make a difference. It will show lenders that, despite past mistakes or very little credit history, you consistently pay your bills on time.