How Do Credit Reference Agencies Decide Your Credit Score? Your credit score is a snapshot of your financial history. It where shows how reliable you are when it comes to money. In the UK, you have a legal right to view your credit score for free at any time. The credit referencing agency collects and […]
Category: Credit Score Explained
5 Reasons Why You Should Care About Your Credit Score
Your credit score can affect your lifestyle and future plans and it shows lenders how reliable you are at borrowing and making repayments.
One In Five Brits Feeling Locked Out From The Financial Services Market
London-based ethical lender Plend has reported that one in five Brits feels locked out of the Financial Services Market (FMS).
6 Ways To Improve Your Credit Score
6 Ways To Improve Your Credit Score Whether you have little to no credit history, think your credit score is too low, or think it is just not as high as it could be, don’t panic! There are a few ways that you can improve your credit score, and although none of them will immediately […]
5 Mistakes That Can Ruin A Students Credit Score
Credit scores are often a mystery to all students but understanding what steps to take can go a long way to improving your credit health.
The Best Apps For Managing Your Credit Score
Managing your credit score is easier than ever, with all three major credit referencing agencies now offering their own apps. But before diving into the apps, there are a few key things to remember about how your credit scores work. The scores are compiled by three agencies: Equifax, Experian and TransUnion. All three search for […]
The Significance Of A Good Credit Mix
A credit mix refers to the different types of credit accounts that you have which make up your credit report such as; mortgages, credit cards, student loans, auto loans etc. The impact of your credit mix on your credit score varies according to the credit scoring model being used, but generally it will make up […]
The Cost Of Bad Credit
Whether you are someone who is starting to worry about your credit score or someone who hasn’t thought much about credit scores in the past and is curious about why people tend to worry so much about it, you may want to know what the actual consequences of having a low credit score are. If […]
Establish Credit Early On
Many young adults face a problem when they begin applying for loans and credits of not having any credit history. If your credit report does not contain at least one account which has been active for the past six months minimum, there will not be enough information to calculate your credit score, meaning you can’t […]
Your Credit Report And Your Credit Card Utilisation Rate
One of the most important aspects analysed by credit scoring models to calculate your credit score which you may not be thinking about, is your credit card utilisation rate, also known as your debt-to-credit ratio. This measures the amount of available credit you are using according to your credit card limits and therefore how much […]