SCOR

What is SCOR?

SCOR stands for the Steering Committee on Reciprocity. Comprised of experts from the credit industry, together they form the informal committee that governs the rules that surround data sharing, known as the Principles of Reciprocity.

Though they have no powers of enforcement of their own, the principles they outline form the backbone of the credit industry, without which it would be much more difficult to share information between lenders and Credit Reference Agencies.

Q: Can I contact them?

A: Yes, contact details, along with more information and the latest version of the Principles of Reciprocity are available to view on their website: www.scoronline.co.uk

Q: How does it affect my credit report?

A: They determine how your credit information can be shared with you, credit reference agencies, potential lenders, landlords and employers.

Jargon Buster

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