Experian overhauls credit scoring system

As part of the reforms, the score range has been expanded from 0-999 to 0-1250, allowing for a more granular breakdown of financial behaviour. The new model recognises behaviours that banks and lenders increasingly value – such as reducing overdraft use, avoiding credit card cash advances, and making regular payments on rent and phone contracts.

Experian will also give people clearer insight into what affects their score and how much of an impact different financial habits have, making it easier for people to take action and improve financial outcomes.

Edu Castro, managing director of Experian Consumer Services, UK & Ireland, says: “The way people manage their money has evolved, and our score has evolved too. Our new Experian Credit Score better reflects more of the everyday financial behaviours that matter – like paying rent or reducing overdraft use – offering a clearer understanding of the information on your credit report. This means people get a more personalised view of how they’re doing financially and more practical ways to improve their score – helping unlock better borrowing opportunities for the future.”

The new score will begin rolling out from November and will reach all UK customers by the end of the year, he says.