What is an...

Application Score

Application Scores are a type of score used by lenders to help them accept suitable customers, based purely on the information given in the credit application form.

Your application score is based on the following information, which must be submitted with the application:

  • Full name
  • Address
  • Phone number
  • Length of time at address
  • Date of birth
  • Marital status
  • Occupation
  • Name and address of employer
  • Length of employment
  • Monthly income
  • Current credit obligations
  • Bank name and address
  • Sort code
  • Account number
  • Account name
  • Amount of credit required

Although an Application Score does not take into account any information from the applicant’s Credit Report, numerous studies have shown that the system is surprisingly good at picking out the best (most creditworthy) applicants, even more efficiently than a trained credit underwriter could.

Application Scores were widely used prior to the evolution of modern Credit Reports, and are still used by some lenders to reject the ‘worst’ of applications prior to purchasing Credit Reports from the Credit Reference Agencies. This helps reduce otherwise unproductive costs in credit assessment.

Just like the credit scores calculated on Credit Reports, and like geodemographic scores, they are based on the concept that the past is a guide to the future. The answers given on a large batch of previous application forms are analysed to see which ones predict defaults. The answers given on any application form can then be analysed to see what the chances are of paying on time or defaulting.

Is my application score the same as my credit score?

No, but both your application score and your credit score predict the likelihood of you defaulting on a payment. Because the scores are assessed on different criteria, the scores themselves are likely to be different.

To see the information on your Credit Report, you can try checkmyfile free for 30 days, then for just £14.99 a month afterwards, which you can cancel at any time. Our Multi Agency Credit Report collates your data from Equifax, Experian, TransUnion and Crediva, ensuring you don’t miss anything important.

Will I be shown my application score?

It is unlikely you will see your score after your information has been assessed, as this is for the lender’s use only. Similarly, you will not find out what the required score to be accepted for credit is either.

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