What does a score of 236 on ClearScore mean?

Your credit score of 236 on ClearScore falls into the "Poor" credit band with Equifax. This indicates that lenders may see you as higher risk.

What does a credit score of 236 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.

ClearScore gets its data from Equifax, one of the UK's three major credit reference agencies.

What does this mean for your finances?

With a "Poor" credit score of 236:

• Many mainstream lenders may decline your applications
• If approved, interest rates will likely be significantly higher
• You may need to consider specialist lenders or secured credit
• Landlords may require larger deposits or guarantors

Don't worry – credit scores can be improved with time and the right approach.

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.