Overview
- Experian will start applying its new scoring model in November and says all UK users will receive updated scores by the end of 2025 with email notifications.
- The score range expands to 1,250 and the five bands get new names that remove labels such as “poor” and “very poor” along with red colour cues.
- Rental payments enter the calculation alongside behaviours like reducing overdraft use, avoiding credit card cash advances, making mortgage overpayments, and mobile contract payment patterns.
- Experian projects 44% of people will shift down a band, 42% will move up, and 14% will remain unchanged under the new scale.
- The firm says credit eligibility, including for mortgages, loans and credit cards, is unaffected by the scoring changes while a cross-sector group urges the Chancellor to set national renter opt-in rules.