Check your credit rating
It may surprise you to learn that there’s no such thing as a universal credit rating. In the UK, there are actually several credit reference agencies that all keep their own records of factors they believe are good indications of your credit worthiness. It’s important to note that each of these agencies works in a slightly different way and what’s more, every lender looks at different factors when deciding whether to lend you money or not.
Whilst it’s never a good idea for someone in serious debt to borrow more money, it’s still worth taking the time to understand what credit companies think about you as it can also affect how competitive your insurance products and mobile phone contracts are.
www.moneysavingexpert.com has a useful tool that enables you to check your credit score and identify any weaknesses that you may wish to address.
If you’re unable to call our free phone number, 0800 043 40 50, right now, you can fill in the form below and one of our advisors will call you back at a time of your choosing.
