The BBA is the voice of the banking industry for all banks who operate within the uk
Guide to Credit Scoring
02/08/2007
This revised Guide to consumer credit scoring has been drawn up by the following organisations in the credit industry:
Association for Payment Clearing Services
British Bankers' Association
Building Societies Association
Consumer Credit Trade Association
Council of Mortgage Lenders
Credit Card Research Group
Finance & Leasing Association
Institute of Credit Management
Mail Order Traders Association
Together with:
Consumer Credit Association (UK)
Equifax
Experian
Scorex (UK) Ltd
INTRODUCTION
This Guide is for developers and users of scoring systems that are used in making decisions about consumer credit. It updates the second edition, drawn up in 1993.
The Office of Fair Trading supports the principles of scoring and recognises its important contribution to responsible credit granting.
Credit scoring measures the statistical probability that credit will be satisfactorily repaid. It is based on the fact that it is possible, using statistical techniques, to predict the future performance of applicants with similar characteristics to previous applications (either of the credit grantor itself or groups of credit grantors).
Related Links
Guide_to_Credit_Scoring (PDF)
Addendum to Guide to Credit Scoring 2000 (PDF)
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