Which credit guide agencies do lenders make use of?
When you make an application for credit, the lending company shall look at your credit history with a number of of this credit guide agencies. But so how exactly does this impact you?
The 3 primary credit guide agencies within the UK – Experian, Equifax and TransUnion – each hold different individual and monetary information about you which forms your credit rating. They normally use this given information to generate your credit score – and all sorts of of the is taken into account whenever you make an application for credit.
But this is how it gets confusing – there isn’t any such thing as a score that is universal. Each agency has its scale that is own example, Experian’s goes from 0-999; Equifax’s from 0-700; and TransUnion’s (formerly referred to as Callcredit) from 0-710… and each possesses its own way of determining your rating. Read More →