Consumers now able to check rating via Experian

by Staff,, Marketing Direct 30-Jun-04, 07:00

LONDON - Experian, a leading credit reference agency and provider of credit scoring services to lenders, has launched the National Credit Score, which gives consumers access to their credit scores.

Experian says this summary based on a consumer's full Experian credit report will give consumers a better understanding of their credit status and how credit scoring impacts lenders' decisions.

With the average consumer having an average of five active lines of credit and the national consumer debt topping £1,000bn, credit management is becoming increasingly important.

The new service is an online tool that calculates an individual's personal credit score based on their full Experian credit report. It provides in an easy-to-read online format showing the consumer's: National Credit Score as a number ranging from 0-1000 -- a higher score generally indicates that lenders will consider it less risky to offer credit; a National Credit Score category, which will be excellent, good, fair, poor or very poor; guidance on what may be affecting a consumer's score and an indication of how a person's credit history may influence a lending decision

The National Credit Score is an addition to Experian's online credit monitoring and alert service, CreditExpert. The National Credit Score is available for a fee here.

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