Hello Everyone! Welcome to our first Credit Class. Today, we're asking the fundamental question: What is a Credit Score, and why should you care about it? A credit score is a number that represents your creditworthiness. Unlike in some countries, the UK doesn't have a single, universal credit score. Instead, there are three main Credit Reference Agencies (CRAs), each with its own scoring system: 1. Experian: Scores from 0-999 2. Equifax: Scores from 0-700 3. TransUnion: Scores from 0-710 The higher your score with each agency, the more creditworthy you're considered to be. Why does this matter? Your credit score can impact: 1. Loan and credit card approvals 2. Interest rates on financial products 3. Mortgage applications 4. Rental applications 5. Mobile phone contracts 6. Utility contracts (e.g., energy providers) It's important to note that while these scores give you a general idea of your credit health, lenders don't see these exact scores. They use the information in your credit report, along with their own criteria, to make lending decisions. Your mission today: Check your credit score! You can get your Experian score for free through their website or apps like MoneySavingExpert's Credit Club. Many banks also offer free credit scores through their online banking platforms. Share in the comments: What surprised you most about credit scores? Drop your questions as well, the experts would take their time to answer them. (Remember, no need to share your actual score!)