News story

Merger of credit score providers raises competition concerns

The CMA has found that Experian’s purchase of ClearScore may reduce competition for people who want to check their credit score.

credit score app

ClearScore and Experian are the first and second-largest providers of free credit score checking in the UK. Experian is also the largest paid credit score checking provider. Millions of people in the UK use the companies’ services each year to check their credit scores, understand their finances, and choose loans and credit cards online.

As Experian and ClearScore are the market leaders in this field, and each other’s main competitor, the Competition and Markets Authority (CMA) is concerned that the merged company would be less likely to innovate to help people better understand their finances, potentially leading to people paying more for credit cards and loans.

Experian and ClearScore have until 27 July to offer solutions to resolve the CMA’s concerns, otherwise the merger will be referred for an in-depth phase 2 investigation.

More information can be found on the Experian/ClearScore case page.

Published 20 July 2018