Check my credit score > What does a score of 532 on ClearScore mean?

What does a score of 532 on ClearScore mean?

Wollit Team4 minutes read · Updated 7th April 2025

A score of 532 on ClearScore puts you in the middle credit score range, called “Good.“

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

Each agency calculates credit scores using its own methods, which is why your score may be different on Experian than on ClearScore. This doesn’t mean one score is more accurate than the other – different lenders use different agencies, so you might want to monitor all of them.

Another thing that’s really important to know: these agencies divide their scores into bands to help explain how lenders view you.

A “Good“ credit score is Equifax’s middle rating, as shown on ClearScore. If your ClearScore shows a number between 531 and 670, you’re in this band. Experian and TransUnion have a similar band, but they call it “Fair.“ For them, the “Good“ band is the second-highest one instead.

Is a 532 ClearScore rating good?

With ClearScore, a “Good“ credit score shows lenders that you are a responsible borrower, though you might have had some minor credit issues in the distant past. We’re talking about things like a few missed payments or even an old default that is not as concerning to lenders now.

It’s also possible to have a “Good” credit score simply because you recently moved to the UK and just started your credit history – maybe got a few bills in your name and a mobile phone contract.

Because of this, lenders will see you as a moderate-to-low risk borrower.

Here’s what you can expect:

• A higher chance of loan and credit approval compared to having a “Poor” or “Fair” credit score.
• However, you might not get the lowest interest rates or the highest credit limits.
• If you’re applying for a mortgage, you may need a larger deposit and won’t qualify for options like 95% LTV mortgages.
• The credit cards you qualify for likely won’t have great rewards, cashback, or promotional offers.
• In competitive rental markets, like London, letting agencies might still prefer another tenant, or at the very least, you’ll need to provide a higher deposit.

In short, “Good“ really means “good enough“: you’ll likely qualify for the financial products you want, but the terms won’t be ideal.

This is where you need to be careful, otherwise you’ll accidentally hurt your credit score. If you apply for credit and decide not to move forward with the offer because it’s not what you were hoping for, your credit score will drop. Each “hard credit check” leaves a mark on your file.

However, the bigger issue is the total cost of credit. For instance, even a 1% higher interest rate on an average £400,000 mortgage over 30 years could cost you nearly £90,000 extra. Good enough? Maybe not.

How to improve a ClearScore score of 532?

If your credit score is between 532, your priority should be improving it so you can move into the next credit score band so you can truly get “good” deals.

Here are some tips:

• Register to vote at your current address and update it whenever you move. This helps credit agencies and lenders confirm your identity – which is why credit agencies like Equifax give you a bonus for it.
• Don’t max out your credit cards. Aim to keep your balances below 25% of your credit limit, as Experian recommends this threshold for a positive impact on your credit score.
• Make sure you have credit agreements and pay them on time to keep building your credit history.

There are also apps that can help you rebuild your credit score, such as Wollit.

Wollit helps by reporting your monthly subscription as loan repayment to all three major credit reference agencies, including Equifax (which ClearScore uses). This strengthens your credit history, the main factor that affects your score.

Additionally, Wollit can report your rent payments to your credit file. While this won’t show up on ClearScore (since Wollit reports rent to Experian), it can still make a difference by showing lenders that, despite past issues, you pay your bills on time.

With time and effort, you can move out of the “Good“ credit score range into a higher one, potentially saving hundreds of thousands of pounds in interest.