People living in the Eastern Central London postcode (EC) have the highest average credit scores in the UK, according to the UK’s leading price comparison site MoneySuperMarket.
Analysis of over 200,000 credit reports from MoneySuperMarket’s Credit Monitor1 reveals that those in the EC area have the highest average credit score at 583 out of a possible 710 points – 21 points higher than the UK average.
According to MoneySuperMarket data, the Surrey town of Guildford has the second highest average score across the UK – 13 points higher than the average score in London (565).
Postcodes with the highest credit scores:
Average Credit Score
EC – Eastern Central London
GU – Guildford
KT – Kingston upon Thames
RG – Reading
W – Western London
E – East London
RH – Redhill
By contrast, residents in the north of England and parts of Scotland have some of the lowest credit scores in the country. Sunderland (548), Wolverhampton (549) and Kilmarnock (550) are the three lowest scoring postcodes.
Postcodes with the lowest credit scores:
Average Credit Score
SR – Sunderland
WV – Wolverhampton
KA – Kilmarnock
DN – Doncaster
HU – Hull
Sally Francis-Miles, money spokesperson at MoneySuperMarket, commented: “Although your credit score isn’t directly impacted by where you live, our research shows those with an EC postcode are the top credit scorers in the UK and are therefore likely to be most highly rated by lenders.
“What will strengthen your credit score is making sure you are registered on the electoral roll – it’s easy to do too. Using a credit card can also help. It doesn’t automatically improve your credit rating, but if you repay the balance in full every month, it shows lenders that you are reliable and credit worthy.
“Additionally, free-to-use monitoring services, such as MoneySuperMarket’s Credit Monitor, offer personalised tips to help increase your credit rating.”
MoneySuperMarket’s top tips for improving your credit rating include:
-Debt repayments – keep on top of repayments for loans, mortgages and credit cards
–Avoid multiple credit cards – having credit cards that are no longer used can have a negative impact on your credit score
-Ensure a sensible use of credit – try not to use a high proportion of the available limit to avoid appearing over-reliant on credit
For more tips and information, visit MoneySuperMarket to see if your area falls into a credit score capital of the UK.