Monitor your credit score

Put simply, your credit score is a numerical interpretation of your creditworthiness and is calculated based on a complex combination of all the information on your credit report over a 6-year period.

Yes ... we realise this might sound complicated. In simple terms it means an indication of how you look to lenders such as credit cards and loan providers.

Traditional credit providers will make their own assessment of your creditworthiness based on how your credit history meets their lending criteria but generally speaking the higher your credit score the more likely you are to be accepted for the best credit deals and interest rates.

A credit report is a record of your personal credit history consisting of information from local authorities, courts, and credit providers. Think of it as your financial passport.

If you’re over 18 and have ever taken out a loan, credit card or mobile phone contract, then you should have a credit report. It’s important to check your credit report regularly to keep an eye on your financial activity and prevent fraud.

If you’re new to the UK - or if you haven’t ever taken out a credit product here, then you will have what’s called a “thin” credit file. This means the credit reference agencies do not hold much information about your ability to manage credit - so lenders have very little information to help them decide whether or not to lend to you.

Pillar Monitor is an entirely free service where you access your credit report and scores from all three major credit reference agencies in the UK.

Pillar Monitor is the only service in the UK where you can access your Equifax, Experian and TransUnion credit score entirely free of charge. On top of the scores, Pillar Monitor offers insights, hints and tips on how you can improve your scores. Pillar also offers paid subscription features on top of Pillar Monitor such as Pillar Boost.

The three credit reference agencies - Equifax, Experian and TransUnion - are producing three different scores. Each one of these institutions has defined ranges to define what a good score is. We've created a table for you to understand what a good credit score looks like and to find out where you stand.

Your credit record is one of the most important things that can affect your ability to achieve your financial goals (like getting a mortgage for a house!). Any time you apply for a financial product such as a loan, credit card or a mortgage - mainstream lenders will look at your credit report, using one or several credit reference agencies, to decide whether or not to lend to you.

You likely have a credit report at the three main Credit Reference Agencies, Experian, Equifax and TransUnion. One of the great things about Pillar's credit building tools is that we report your usage to all three, meaning you are building a complete credit profile with just a few tools.