Credit scoring in the UK works by allotting points for certain criteria. The more points you have been allotted, the more likely it is that the credit provider will lend to
you. Many different formulas are used to calculate credit scores, but most are based on the following factors, which each lender weighs differently:
Payment history - A record of late payments on your past and current credit accounts may lower your score.
Public records - Matters of public record such as judgments, bankruptcies, and collection items may lower your score.
Amount owed - Owing too much money may lower your score, especially if you are approaching your total credit limit.
Length of credit history - In general, a longer credit history is better.
New accounts - Opening multiple new accounts in a short period of time may lower your score.
Searches -A search is recorded on your credit report whenever someone else gets your full credit report, such as a mobile phone company, a bank or other financial services company. A large number of recent searches may lower your score.
Accounts in use - The presence of too many open accounts can lower your score, whether you're using the accounts or not.
Electoral Roll - You may get some points for being registered on the electoral roll.
Sources of this information include Directgov at direct.gov.uk and further information on UK credit agency scoring can be found there. Disclaimer: The above information was written in good faith, but we cannot guarantee accuracy.