What's the score...

and would you credit it?

by Jemiel Benison from the CAS Financial Health team.

This article was first published in The Herald on 15 August 2026.

Here’s something that might surprise you: no-one has a single credit score. 

I mention this because in the Citizens Advice network we often see people who ask us about credit ratings. Many don’t fully understand how they system works, and some find it quite intimidating.

But it is important to understand that you do have rights. And in order to know how to exercise those, it’s also useful to know the basics of how it all works. So I thought I’d use this space this week to give a quick explainer. 

Credit scores vary depending on who does them. There are three credit reference agencies - Equifax, Experian and Transunion - and each use their own scoring scales, based on the data held in your credit report. 

On its own, a good credit score doesn’t mean an automatic yes to a loan application. It’s more an indication that you’re likely to be a good risk. 

The detail in the underlying credit report is much more important in any lender decision. And if credit is refused it would be prudent to ask the lender which credit reference agency they used, so you can check that the information they have is accurate. 

Your credit report contains information like how much you currently owe to lenders, any missed payments, previous searches of the report in the last 12 months, any court judgements, mortgage repossessions, debt arrangement schemes, bankruptcies or protected trust deeds.

If you are being refused credit you may want to check that the information in your credit report is accurate. You can ask for a free statutory credit report direct from any of the three credit reference agencies. 

If the information on a credit report is inaccurate you can ask the agency to correct it. They will investigate and correct the entry If inaccurate. If you disagree with their decision, you can appeal to the Financial Ombudsman Service. 

It’s also worth noting that in the future, it will matter much less which credit reference agency you use to check your credit history. Because under new changes being introduced by the Financial Conduct Authority, creditors will have to report to all three agencies. This should improve consistency of information and give a more rounded picture of your credit history. 

Consumer bodies, including Citizens Advice Scotland, have been instrumental in these reforms. In January 2024 CAS joined an interim working group that helped set up the new Credit Information Governance Body (CIGB) that will oversee them. It comprises representatives from the credit industry, reference agencies and consumer organisations like ourselves. The group will also oversee other reforms to streamline access to reports and manage disputes over errors.

These changes will make the credit score system fairer and hopefully lead to better consumer outcomes. We see it as our task on the CIGB to make sure the reforms happen timeously and are implemented effectively.

In the meantime, as ever, if you are experiencing difficulties with any aspect of credit scores or if you’d simply like more information, your local Citizens Advice Bureau is always there to offer free, confidential and impartial support.