| Whatever you’re looking at, it always makes | | | | as this will definitely drag your rating down. It |
| more sense when you can see the whole picture. | | | | helps you much more to focus attention on |
| When it comes to managing your money a credit | | | | improving your rating instead. |
| report can help to fill in some of the pieces. | | | | Successfully managing credit will demonstrate that |
| You credit rating plays an important role in | | | | you can be relied upon to keep up with financial |
| financial matters and is used to rate your eligibility | | | | commitments so make sure you don’t miss |
| for all kinds of credit, from personal loans to | | | | any payments and get in touch with credit lenders |
| mortgages. | | | | if you are finding it tough to settle your bills each |
| It is important to understand how your credit | | | | month. |
| rating works, what factors control it and how it | | | | An easy way to improve your rating is by simply |
| impacts upon your financial outlook. | | | | ensuring you are on the electoral roll. If in doubt |
| Your credit rating is ascertained by a scoring | | | | contact your local government authority to double |
| system which looks at your financial history. | | | | check you are registered and that all details are |
| Various different sources are used including | | | | correct. |
| electoral rolls and county court judgements. | | | | If you do not already know what your credit |
| Credit scoring systems help lenders to decide | | | | rating is then you need to get a copy of your |
| whether or not you are credit worthy and credit | | | | credit report. In order to do this you need to use |
| checks are also used under other common | | | | a credit reference agency. If you shop around |
| circumstances such as when renting a property or | | | | you may find you can get a free credit report |
| even when opening a new mobile telephone | | | | which always helps when it comes to keeping |
| contract. | | | | your finances in order. |
| If you have had any kind of credit in the past, like | | | | Having a look at your credit report allows you to |
| a credit card or car loan, your management of | | | | gain a clear picture of everything that affects |
| the payment of this will play a part in your overall | | | | your finances and helps to keep everything in |
| credit score. You are likely to score top marks if | | | | check. You can see what companies have been |
| you have what is considered to be a reliable and | | | | checking your credit and look for potential |
| stable credit history, usually achieved by paying | | | | inaccuracies and unauthorised activity which helps |
| your bills on time each month and avoiding late or | | | | to prevent identity fraud. |
| default payments. | | | | Higher scores usually mean lower interest rates |
| There are several things you can do in order to | | | | on new credit applications so keeping your credit |
| achieve a healthy credit rating. If you have had an | | | | score healthy can save you money in the long |
| unsuccessful application for credit then do not | | | | run. |
| continue to repeatedly apply with different lenders | | | | |