Borrowers will see their credit score take account of rental payments for the first time under a major overhaul being rolled out by Experian to better reflect how credit applications are assessed by lenders. The changes will see Experian offer a more detailed view of information on credit reports and ways to improve scores.

It includes an expansion of the score range, from 0-999 previously, now up to 1,250, with the five bands also updated with new names and refreshed descriptions – scrapping “poor” and “very poor” and the use of the colour red to be less distressing to borrowers. More than 40% of people (44%) are set to drop down a score banding after the changes, given the expanded scoring.

Experian said 42% are also likely to move up a banding, while 14% will see their score band re

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