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Credit scoring can be extremely complex and confusing for people who have never come across credit ratings before. Even if you don’t understand all of the detail around credit cards – and to be honest, you don’t really need to – most of us know that having a healthy credit score helps you get loans, credit cards and other credit…
We’re all familiar with having to fill in forms when applying for a new job, attending interviews, and perhaps showing your passport to prove you have the legal right to work in the UK. Getting a new tenancy agreement on a rented property can seem like a similar process, with forms and evidence to be supplied. In many situations there…
Even if you don’t spend long thinking about it, your credit score can have a huge impact on your everyday life. Every financial choice you make will be affected by your credit score, and if your credit score is low, then you may be unable to get some of the better deals around. Credit repair companies market themselves as the…
Back in 2008, the financial crash led to the loss of thousands of jobs, and the government having to step in and secure the future of banks such as the Royal Bank of Scotland. When the causes of the crash were fully investigated, it was found that one of the main causes was what was termed subprime lending. In basic…
Banks and other financial institutions have never lent money no questions asked. Since the concept of credit began, they have always asked some sort of questions to make sure that the person who is being lent the money can afford to pay it back, and more importantly, will pay it back. We are all used to the credit checks which…
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…
