Credit scores to include rental payments, says Experian

Experian announces credit scores to incorporate rental payments and revamps scoring bands, eliminating categories like "poor" and "very poor." The credit score's scale will expand from 999 to 1250, providing borrowers with more guidance on improving creditworthiness. The new system reflects everyday financial behaviors such as rent payments and offers clearer categories like Excellent, Very Good, Good, Fair, and Low, with customers in the low band receiving advice on boosting their score. Experian plans to roll out the updated scoring system this month to all customers by year-end, emphasizing that eligibility for credit products remains unaffected.