Is 128 a good TransUnion credit score?

Your credit score of 128 on TransUnion falls into the "Very Poor" credit band. This may be due to past financial difficulties or limited credit history.

What does a credit score of 128 mean?

In the UK, credit scores are calculated by three main credit reference agencies: Experian, Equifax, and TransUnion. Each agency has its own way of calculating credit scores, which means you'll see different scores with each.

TransUnion is one of the UK's three main credit reference agencies and uses scores from 0 to 710.

What does this mean for your finances?

With a "Very Poor" credit score of 128:

• Most mainstream credit products will be unavailable
• You may need credit-building products designed for your situation
• Rental applications and utility contracts may be difficult

But don't lose hope – many people have rebuilt their credit from here. It takes time and consistency, but it's absolutely possible.

How to improve your credit score

Here are the key steps to improve your credit score:

• Pay on time, every time. Payment history is the most important factor. Set up Direct Debits for all your bills to avoid accidentally missing payments.
• Keep credit utilisation low. Try to use less than 25% of your available credit limits.
• Register to vote at your current address. This helps verify your identity and can boost your score.
• Check your credit report for errors and dispute any inaccuracies.
• Build positive credit history by making regular payments on credit agreements.

How Wollit can help

Wollit is a credit-building app that reports your monthly subscription as a loan repayment to all three credit reference agencies. This helps you build positive credit history, which is the main factor affecting your credit score.

Wollit can also report your monthly rent payments to Experian, giving you another way to demonstrate your financial reliability.

Many Wollit users have seen their credit scores improve significantly within just a few months of signing up.