Having trouble applying for a personal loan, credit card or mortgage? It might pay to check your credit score. But what is a credit score? Basically, it is a numerical rating showing how reliable you are with credit. It is based purely on the information held on your credit report and it will change as your personal details and circumstances change.
Why check my credit score?
There are plenty of good reasons to check your credit score. Knowing what’s in your credit report and what sort of credit rating you have cannot only help you manage your finances better, but it can help you get the credit you want.
Knowing where you stand
You can check your credit score as many times as you like. A record of your checks will be kept, but this won’t affect your credit scoring or your future credit reports. Checking your credit score will give you the big picture on your finances. A reasonably straightforward process, it will show you how your credit report impacts upon creditors lending decisions.