Credit score

Apps such as ClearScore have made it easier than ever to check your credit rating instantly. Credit scoring is based on a huge range of factors, and your credit score can change over time depending on your circumstances. Credit scores are a measure of how risky the banks or other financial institutions think you are – will you pay back…

Those adverts on television about “knowing your numbers” in terms of credit scoring prompted thousands of us to download apps onto our phones to track our credit score. Typically, the app will show some sort of traffic lights system. If you’re in the green, your credit score is healthy, amber means that perhaps there is some work to be done…

We all know that whether or not we are successful in applying for a loan, credit card or similar depends on our credit score. Many people though think a credit score is one of those things over which we have very little control, but this just isn’t true. There are lots of positive steps which you can take to improve…

If you’re in the habit of keeping track of your credit score, and it’s the same month after month, then it can come as a shock to see that suddenly your score has dipped. This never happens for no reason though. Although everyone’s situation is different, there are eight main reasons why your credit score has declined. New Credit Application…

Smartphone apps which allow you to check your credit score are now commonplace and free to use, and many of us use them regularly. But the apps and the credit score only gives a very broad indication on your credit file. The numbers on their own will give you an idea about which band you fall into, and tracked over…

The credit industry in the UK is massive with almost 500,000 store and credit cards and approximately 100,000 mortgages issued a month. Lenders must make a multitude of decisions of whom to lend or not daily. For all of this, they need credit data for all the applicants that are available in the form of credit history and scores. Here…

Having a good credit history is vital to building a great credit score. For those individuals that do not have a credit history building it from scratch can prove a challenge. However, with time and patience it is possible to build a decent score in the following ways: Get a bank account: For those that do not have one getting…

Without realising many individuals unwittingly hurt their credit scores through incorrect financial decisions. While these may seem trivial and are soon forgotten these sometimes later pop up as part of the credit history and hurt the score. Just a few of the ways that people can end up adversely affecting their credit score are: Loan payments made after the due…

Did you know there are approximately 7 million card and loan applications that are rejected by companies and lenders? Most of these rejections are due to the applicants having low credit scores that make them a high risk to lend to. If your score is on the lower side, these are a few ways to increase your credit score: Make…

If you are planning on renting a property and are concerned about clearing your credit check read on: Firstly, the landlord/letting agent must get the consent of an applicant to gain access to their credit file. The checks will be done by any of the 3 credit reference agencies (CRAs). The UK has TransUnion, Equifax and Experian. For the credit…