Experian to Launch Credit Score in UK That Includes Rental Payments

Core Insights - Experian UK&I is launching a new credit score in the UK that incorporates rental payments and other financial behaviors, aiming to provide a more comprehensive view of consumers' financial habits [1][2] - The new credit score will be rolled out this month and is expected to reach all UK consumers by the end of the year, featuring a score range of 0 to 1250, compared to the previous range of 0 to 999 [2] - The updated score will not impact consumers' eligibility for credit products like mortgages or loans, but will offer a more detailed perspective on their financial history [3] Company Developments - The new Experian Credit Score reflects evolving financial management practices, emphasizing everyday behaviors such as rent payments and overdraft usage [4] - The initiative aims to provide consumers with personalized insights into their financial status and practical ways to improve their credit scores, potentially unlocking better borrowing opportunities [4] - In addition to the new credit score, Experian is also launching an AI-powered tool for financial institutions to enhance their credit and risk management processes [5][6]