What Credit Score Do I Need for a Loan in the UK?

What Is a Credit Score?

A credit score is a number that reflects your creditworthiness — essentially, how risky you are to lend money to. It’s calculated by credit reference agencies (CRAs) based on your financial history, including:

• Your repayment history on credit cards, loans, and mortgages
• Your current levels of debt
• How often you’ve applied for credit
• Whether you’re on the electoral roll
• Any defaults, CCJs, or bankruptcies

In the UK, the three main credit reference agencies are:

• Experian
• Equifax
• TransUnion

Each has its own scoring system, which means your score can look different depending on which service you check.

Credit Score Ranges in the UK

Here’s how the three CRAs define their scoring ranges:

Experian (0–999 scale):

• 0–560 = Poor
• 561–720 = Fair
• 721–880 = Good
• 881–960 = Very Good
• 961–999 = Excellent

Equifax (0–1000 scale):

• 0–438 = Poor
• 439–530 = Fair
• 531–670 = Good
• 671–810 = Very Good
• 811–1000 = Excellent

TransUnion (0–710 scale):

• 0–550 = Poor
• 551–565 = Fair
• 566–603 = Good
• 604–627 = Very Good
• 628–710 = Excellent

So when asking what credit score you need for a loan in the UK, it depends on which agency the lender uses. But generally, the higher your score, the better your chances of being approved and receiving lower interest rates.

Do Lenders Use the Same Score?

No. While credit agencies give you a “consumer score,” lenders create their own internal scoring systems based on the data they receive. That means one lender might see you as “good,” while another sees you as “fair.”

This is why people sometimes get rejected by one lender but approved by another — even with the same credit report.

Minimum Credit Score for a Loan in the UK

There isn’t a single minimum score required across all lenders. Instead, here’s what you can expect based on your credit band:

• Poor Credit (below average range):
  You may still be able to access loans, but likely at higher interest rates. Guarantor loans, bad credit loans, or credit builder products may be available.
• Fair Credit:
  You might be approved for standard personal loans, but with higher-than-average interest rates.
• Good Credit:
  You should qualify for most mainstream loans with competitive rates.
• Very Good/Excellent Credit:
  You’re likely to access the best loan products, with lower rates and flexible terms.

So while there isn’t a set number, you generally need a good or above score to access the best loan deals in the UK.

Other Factors Lenders Consider Beyond Credit Score

Your credit score is important, but it’s not the only factor. Lenders also look at:

• Income and employment status
• Existing debts and financial commitments
• Your repayment history
• Loan purpose and amount requested
• Affordability checks (to see if you can realistically repay)

This means even with a “good” credit score, you could be declined if your affordability doesn’t stack up.

Can You Get a Loan With Bad Credit?

Yes — but the type of loan you’ll be eligible for will be more limited. Borrowers with bad credit may still qualify for:

• Guarantor loans (where someone else guarantees repayment)
• Secured loans (backed by property or assets)
• Bad credit instalment loans
• Credit union loans

These come with higher costs, but they can also help you rebuild your score if repaid responsibly.

How to Check Your Eligibility Without Impacting Your Score

If you’re unsure whether your credit score is good enough, don’t apply blindly. Every full application creates a hard credit check, which lowers your score slightly if repeated often.

Instead, use an eligibility checker with a soft credit search. This lets you see if you’re likely to be approved without affecting your credit rating.

Trust Credit offers exactly this: a fast, FCA-regulated soft check that matches you with lenders you qualify for in under 60 seconds.

How to Improve Your Credit Score Before Applying

If your score isn’t where you want it to be, here are steps you can take before applying:

1. Register on the electoral roll at your current address.
2. Pay all bills on time — even a single late payment can hurt your score.
3. Keep credit utilisation below 30% of your available limit.
4. Avoid multiple applications within a short period.
5. Check your report for errors and dispute any incorrect entries.
6. Consider a credit builder card if you have little or no history.

Improving your score can take time, but even small increases can open doors to better loan options.

FAQs: Credit Scores and Loans in the UK

Do all lenders check all three agencies?
No. Some use Experian, some use Equifax, and others use TransUnion.

What credit score do I need for a mortgage?
Generally, you’ll need at least a “good” score with the agency your lender uses.

Can I get a loan with no credit history?
Yes, but it may be more difficult. Specialist lenders or guarantor loans may help.

How often should I check my credit score?
At least a few times a year — and always before applying for a loan.

Final Thoughts: What Credit Score Do You Need for a Loan?

So, what credit score do you need for a loan in the UK? While there’s no universal number, aiming for a good or very good score will maximise your chances of approval and unlock lower interest rates.

If your score is poor or fair, don’t panic — you still have options, especially if you use an FCA-regulated broker like Trust Credit. With our soft credit check, you can see what loans you’re eligible for with no impact on your credit score, helping you borrow with confidence.