Everything you need to know about credit scores in the UK - from how to check yours, how to improve it, what to do if you have a CCJ and how long it stays on your report
Whether you realise it or not, there are three agencies that compile reports and assign a score to every UK adult over 18. Read on for our primer on how credit scores work in the UK, what goes into reports, how to check yours and what banks and other lenders can see when they look you up.
Your credit score is often seen as the key that could unlock access to cheaper borrowing and bigger loans. But what is your credit score? Who decides it? And what factors affect it?Read More
Your credit record gives a lender the information they use to help them decide if you can get credit with them or not. Using your previous borrowing history and current debts as evidence it will help them work out how reliable a borrower you are and whether you can afford to repay the money you want to borrow.Read More
If you've never borrowed before or you have a poor credit history, a credit building credit card could help you improve your credit score.
You might be surprised to find out just how many companies look at your credit report before they decide whether to offer you a contract.
This is what happens when they either like, or dislike what they see.
Being turned down for credit is inconvenient and worrying, especially if you don't know why it's happened. Find out why your application might have been rejected by the bank and what you can do about it.Read More
Not every lender requires a perfect credit score. Check out our best loans for bad credit to see if you can get a better deal on your borrowing if you have a poor credit history.
While there's no such thing as a "failing" credit score, as each lender has its own criteria, a better score means more options.
Put simply, a better credit score means you get offered better rates, bigger credit balances and will be accepted by more people.
So here's how to clean up your report.
Find credit cards with the features you need that could accept you even if you have bad credit
Getting rejected by a lender hurts. Not just by interrupting your plans, but also by actually lowering your credit score too.
The good news is there are ways you can minimise the chance of being told "no", regardless of your score.
Here's what you can do to boost your chances of getting a deal:
Find out which credit cards could accept you with our eligibility checkerRead More
If you’re looking for a personal loan but are concerned about whether you’ll be accepted, our guide can help you learn what lenders are looking for and how to find the easiest to be approved for.Read More
Designed to help you pay off your debts faster, bad credit consolidation loans offer a range of interest rates and term lengths to suit your personal circumstances.
There's no denying that defaults, IVAs and bankruptcy will lower your credit score - but the good news is they don't last forever.
However, they can linger for longer than you might expect.
This is how long they will stay on your report for:
If you miss repayments on a credit card or loan, you could end up with a default. This marker goes on your credit file and impacts your score. Here’s everything you need to know.Read More
As if having a county court judgment issued against you isn’t bad enough, the fact that it’ll damage your credit score is no laughing matter. Here we look at the effect a county court judgment can have on your financial prospects and what you can do about it.How long it will take
Becoming bankrupt is one way of dealing with debts, but it will affect your credit rating. Here we explain everything you need to know.It does clear eventually