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National Credit Score: Credit Jargon Explained

Posted on 15. Feb, 2010 by emilythomas in Daily Finance Definitions

Your National Credit Score is a credit score based on the information in your Experian credit report. It is a number between 0 and 1,000. A higher score suggests that you will probably find it easier to borrow money or buy goods on credit and may be offered better deals than if you have a low credit score.

Your National Credit Score will not be the same as credit scores calculated by lenders when you apply for credit, such as loans, mortgages or credit cards. This is because lenders use details from other sources like your application form and their history with you, as well as your credit report. Lenders also use unique methods to calculate scores – they may even use different formulas for different products.

Basically, a National Credit Score is just another name for another credit score calculated by a certain company, Experian.

Tags: credit advice, credit help, Credit jargon explained, credit rating, credit score, Daily Definition, Experian credit score, National Credit Score