"Credit score" makes it sound like there's one official number that follows you around. There isn't — different credit reference agencies calculate their own scores, and different lenders weigh the underlying information differently. What's consistent is the kind of data that feeds into all of them.
Where the data comes from
Credit reference agencies compile information from lenders you've borrowed from, public records such as County Court Judgments, and the history of applications you've made. Lenders then use that data, often alongside their own scoring, to decide whether to lend to you and on what terms.
Five things that typically move it
- Payment history. Paying on time, consistently, is usually the single biggest factor. Missed or late payments tend to weigh heavily.
- Credit utilisation. How much of your available credit you're actually using — maxing out a credit card limit looks worse than using a small slice of it, even if you pay it off in full each month.
- Length of credit history. A longer track record generally helps, which is one reason closing your oldest account isn't always a good idea.
- Recent applications. Several applications in a short window can look like financial pressure, even if each individual application was harmless.
- Mix of credit. A reasonable mix, sensibly managed, tends to be viewed more favourably than a single type used heavily.
A few practical moves
Automate payments so you're never relying on memory to pay on time. Keep an eye on utilisation, particularly in the weeks before a big application like a mortgage. Avoid applying for several products in a short window if you can help it. And check your own report periodically for errors — a mistake on someone else's record occasionally ends up on the wrong file.
See our glossary for related terms like credit utilisation and debt-to-income ratio.