Your score falls within the range of scores, from 580 to 669, considered Fair. A 644 FICO® Score is below the average credit score. Some lenders see consumers with scores in the Fair range as having unfavorable credit, and may decline their credit applications.
What is a decent credit score UK?
A credit score of 721-880 is considered fair. A score of 881-960 is considered good. A score of 961-999 is considered excellent (reference: https://www.experian.co.uk/consumer/guides/good-credit-score.html). A credit score of 604-627 is good.
What is TransUnion credit score used for?
A credit score is a snapshot of your financial trustworthiness represented as a number. Lenders use this number to help them determine the risk in lending money to you. It is an objective, non-biased lending tool used by lenders to provide you with a faster, fairer, and more consistent response.
Is TransUnion a real credit score?
Many consumers are more familiar with FICO scores, as VantageScore is a more recent development, so you may be wondering if a TransUnion credit score is accurate. TransUnion VantageScore is, in fact, accurate — based on that credit score model.
Which is more important Equifax or TransUnion?
Is TransUnion more important than Equifax? The short answer is no. Both TransUnion and Equifax are reliable credit reporting agencies that compile reports and calculate your credit scores using different scoring models.
Is my TransUnion score the same as my FICO score?
Are FICO, Equifax, TransUnion & Experian the Same? No. In fact, FICO has one role while Equifax, Experian & TransUnion have another regarding your credit score. While the terms are used interchangeably and largely seen as synonymous in reality they couldn't be further from mirror images of one another.
What UK banks use TransUnion?
The UK has three main credit scoring agencies: Equifax, Experian and TransUnion. Monzo and NatWest's tool will show customers their TransUnion score.Mar 3, 2020
What banks deal with TransUnion?
Bank of America: Experian or TransUnion. Capital One: Equifax, Experian and TransUnion. Chase: Equifax, Experian and TransUnion.Jun 5, 2020
Is TransUnion used in the UK?
TransUnion International UK Limited (trading as TransUnion) is a part of TransUnion's global organisation and one of the three main Credit Reference Agencies in the UK. We connect businesses and consumers through data, technology and analytics to help build credit economies worldwide.
Do banks use TransUnion?
The scoring model used in mortgage applications While the FICO® 8 model is the most widely used scoring model for general lending decisions, banks use the following FICO scores when you apply for a mortgage: FICO® Score 2 (Experian) FICO® Score 5 (Equifax) FICO® Score 4 (TransUnion)Dec 2, 2020
Do mortgage lenders use TransUnion UK?
UK mortgage lenders tend to use three credit reference agencies ; Experian, Equifax and TransUnion, although there are many others that are referred to by lenders across the UK. This can be frustrating because one lender may refer to Experian and use their scoring system whereas another may use data from Transunion.
What is a good credit score for a mortgage UK?
A credit score of 750 is a 'Fair- Excellent' score across all the UK credit reference agencies. This is generally a good score and will mean you'll have options of mortgage lenders. The exact mortgage rate you'll be offered will depend on your unique circumstances.