Credit scores for individuals – how they work

Individuals get a credit score too, but it is built on a different basis than for companies. It is used, among other things, when applying for a loan, credit or a rental agreement.

What goes into it

For individuals, the model typically looks at income, payment remarks, age and prior credit history. It indicates the probability that the person will repay.

The difference from a corporate score

A corporate score is built on financial statements, roles and company data, while a personal score is built on personal data and income. The rules around personal data are also stricter.

Privacy and access

• The person being credit-checked has the right to be notified (a copy notice)
• A legitimate need is required to make the lookup
• The person can request access to the information

For sole proprietorships, separate rules apply, because the person and the business are closely intertwined.