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What is the Credit Karma credit score range in the UK?

Credit Karma is a popular credit monitoring service that can give you your credit score and report for free. This data actually comes from TransUnion, one of the three main credit reference agencies (CRAs) in the UK.

As a result, Credit Karma's credit score range is actually the TransUnion credit score range. It’s also different from those used by other credit monitoring services, which might use Experian or Equifax, the main TransUnion competitors.

What is the TransUnion credit score range that Credit Karma uses?

If you sign up to Credit Karma, you’ll notice that TransUnion’s credit score range in the UK is from 0 to 710. This range is unique to it and is different from the ranges used by other CRAs such as Experian and Equifax.

However, while the range is different, the credit score is calculated in the same way, based on the information in your credit report, including your payment history, credit utilisation, and credit history length.

These factors are weighted differently by TransUnion to produce a score between 0 and 710. The higher your score, the better your credit history and the more likely you are to be approved for loans and credit cards.

What do the TransUnion credit score ranges that I see on Credit Karma mean?

If you log in to Credit Karma, you’ll notice that your TransUnion credit score is included în a specific “band”, and that this band has a name.

This is because TransUnion divides its credit score into several ranges, and each is meant to represent a different level of creditworthiness:

  • 0-550: Very Poor.
  • 561-565: Poor.
  • 566-603: Fair.
  • 604-627: Good
  • 628-710: Excellent.

However, you might notice that on Credit Karma the credit score bands are labelled a bit differently. Scores 565 and below are labelled “Needs Work”, while the other bands are the same:

  • Scores between 566-603 are still labelled as Fair.
  • Scores between 604-627 are still Good.
  • Scores 628 and above are still Excellent.

This doesn't change anything, and in fact it might make things easier for you to understand. If your credit score is under the Fair band, meaning under 566, you should try to improve it before applying for a credit card, loan, or mortgage.

In fact, having your credit score in a specific band can have a big impact on your finances:

  • A good credit score can also make you eligible for a wider range of financial products, such as mortgages and personal loans. It can also increase your chances of getting approved for them.
  • A higher credit score can result in lower interest rates, saving you money on loans, credit cards, and mortgages. You might save thousands of pounds or more if you improve your credit score before applying, especially for loans with a long term and mortgages.
  • A good credit score can lead to higher credit limits, giving you more flexibility.

How does Credit Karma's credit score range differ from the ones on other credit monitoring services?

Credit Karma's UK scoring differs from other credit monitoring websites and apps in a few ways:

  • Credit Karma uses TransUnion data and scores out of 710, whereas other agencies have different ranges. Experian scores out of 999, and Equifax scores out of 1000.
  • Your credit score band might also be different on Credit Karma than on other apps. This is because each agency uses slightly different data sources and formulas to calculate credit scores. This can lead to variations in scores even if the data is similar. Also, some lenders report to all three major credit reference agencies, while others report to only one or two. This can result in different scores as well.
  • Although Credit Karma uses the same scoring ranges as TransUnion, it labels the ranges differently. For example, Credit Karma labels scores between 0-565 as "Needs Work," 566-603 as "Fair," 604-627 as "Good," and 628-710 as "Excellent".
  • Finally, Credit Karma offers access to your credit report and score for free, whereas Equifax or Experian charge for it.

How can I move into a higher band on the Credit Karma credit score range?

If you want to improve your credit score and move higher on the Credit Karma credit score range, there are a couple of things you can do:

  • Register to vote at your current address, and update the registration each time you move.
  • Pay your bills and debts on time to avoid late payment fees and negative marks on your credit report.
  • Keep your credit utilisation ratio low by paying off debts and avoiding going over your credit card limit.
  • Regularly check your TransUnion credit report on CreditKarma for errors, and dispute any inaccuracies.
  • Avoid applying for multiple credit cards or loans in a short period, as this can hurt your credit score temporarily.
  • Most importantly, consider downloading a specialised credit-building app.

The good news is that now there are many apps that can help you build and improve credit. One such app is Wollit.

Wollit works by reporting a fixed-fee monthly subscription as a loan repayment to all credit reference agencies. This helps you build a history of timely debt repayments, which is the main factor that matters for your credit score.

Understanding where you are on the Credit Karma credit score range is great, but if you’re looking for an app that can actually improve your score, you might get more mileage from a credit-building app like Wollit.

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