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Borrowers will see their credit score take account of rental payments for the first time under a major overhaul being rolled out by Experian t o 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’ along with the use of the colour red to be less distressing to borrowers.

More than 40 per cent of people (44%) are set to drop down a score banding after the changes, given the expanded credit scoring.

Experian said 42 per cent are also likely to move up a

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