Credit Score Statistics: What You Need to Know About Your Score

When it comes to your financial health, your credit score, a three-digit number that lenders use to judge how likely you are to repay debt. Also known as a FICO score, it’s not just a number—it’s a gatekeeper to loans, mortgages, and even some jobs. In the UK, the average credit score sits around 750 on the Experian scale, but that number means nothing if you’re not sure why it’s there—or how to move it.

What actually affects your score? It’s not complicated: payment history, how much you owe, how long you’ve had credit, new applications, and the mix of accounts you use. Miss a payment? That single slip can knock 100+ points off your score. Pay off a credit card? That can lift it just as fast. The credit report, the detailed record behind your credit score, listing every loan, card, and missed payment over the past six years. You’re legally entitled to a free copy every year. Most people don’t check it until they’re denied a loan—and by then, it’s too late. Errors show up more often than you think: outdated addresses, accounts that aren’t yours, paid-off debts still listed as unpaid. Fixing those can boost your score overnight.

And here’s the real kicker: your score isn’t just about borrowing. Landlords check it. Mobile phone providers check it. Even some employers do, especially for finance roles. A score below 600? You’ll pay more for insurance. A score above 800? You could get a mortgage with better terms than your neighbour. The credit score range, the scale lenders use to categorize risk—from poor to excellent. In the UK, it’s broken into five tiers: poor (0-560), fair (561-720), good (721-880), very good (881-960), and excellent (961-999). Most people think they need an 800+ to qualify for anything good. That’s wrong. You can get a decent mortgage at 700—if you know how to present your case.

What’s missing from most advice? The timing. Applying for too many cards in a few months? That’s a red flag. Closing an old credit card to "clean up" your profile? That can hurt your score by shortening your credit history. The best move? Keep old accounts open, even if you don’t use them. Use one card for small monthly purchases and pay it off in full. That’s how you build trust with lenders without going into debt.

You don’t need to be a financial expert to improve your score. You just need to know the rules—and the numbers behind them. Below, you’ll find real-world breakdowns of how UK consumers are managing their credit, what’s causing the biggest drops, and how people just like you are climbing out of poor scores and into better financial doors. No fluff. No jargon. Just the facts that move the needle.