Press Release of the Day – 9th July

The south is home to eight of the top ten areas with the highest credit scores in the country according to new analysis by Share to Buy.

Using the latest data from two major credit agencies, Share to Buy have mapped out the UK’s average credit scores by county showing where the country’s best scorers live, and who currently tops the national average of 570.

According to Google search data, interest around loans peaked between March and June 2020, with the phrase ‘can I get a loan’ rose by 11% compared to the same period last year, while the phrase ‘how to improve credit score’ was up by almost 27% since 2019.

Top Five: Best Credit Scores in the Country

Oxfordshire has the highest average credit score in the country, over two and a half times the national average of 570 and 154 points higher than Nottinghamshire, the area with the worst credit scores in the UK.

Bottom Five: Worst Credit Scores in the UK

All counties analysed have higher credit scores than the national average, but some areas in the UK lag behind their neighbours. When it comes to the best and worst scores, there is a definite North-South divide.

Nine of the top 10 areas with the best credit scores are in the south. The bottom ten is dominated by northern areas like Lancashire and Yorkshire, and two in the midlands – Leicestershire and Nottinghamshire.

What Impacts a Credit Score Positively

Several factors can impact credit scores throughout our lives. Registering to vote is an excellent place to start, as most credit scoring companies use this to help confirm your identity and address. Three ways to impact your Score positively include:

  • Set up direct debits where possible: Consistent, regular payments look good on your profile, so try to set up direct debits for as many payments as you can to ensure you pay on time and in full regularly.
  • Maintain older accounts: The average age of your bank account is taken into consideration by credit scorers, so try to stick to one account that can be well managed over the long-term.
  • Don’t borrow more than you can afford: Always ensure you can meet minimum repayments easily, and pay off accounts sooner if you can. This shows you can manage within your set limits.

What Impacts a Credit Score Negatively

1 2 3

Share