Credit referencing outfit Experian has launched National Credit Score, an online service that gives UK consumers access to their credit rating.
The system calculates an individual's personal credit score based on information held in their full Experian credit report.
The information is provided in an easy-to-read online format showing the credit score as a number ranging from 0-1000 and how this number compares to the national average. The credit score category is also given - ranked excellent, good, fair, poor or very poor - along with guidance on factors affecting the score.
Jill Stevens, director of consumer relations at Experian, says most people are aware that lenders score credit applications, but are not sure what this means and what information is used.
"It (the service) enables people who want to monitor their credit information to better understand how lenders may view their credit history when they apply for credit," she says.
The service is available for an introductory price of £4.99 to existing subscribers to CreditExpert, Experian's online credit monitoring and alerting service.