Are you credit worthy?



Three quarters (73%) of UK adults expect to be accepted when applying for credit, yet less than one in two (43%) are likely to be, according to research commissioned by aqua Credit Cards. This means almost a third of people in the UK (30%) are blind to the fact that they are actually at risk of being declined.

The research, which aims to understand the creditworthiness of the UK population better, shows Brits have little knowledge of credit scores. More than half (55%) of the adults polled in the survey thought earning more than £25k a year meant they could access credit and over a quarter (26%) thought being on the electoral roll would suffice yet neither of these guarantees credit approval.

Of those who think they’d be accepted for credit, over half attributed their confidence to the simple fact they are home owners [See table below]. Your credit score is, in fact, based on a number of factors, which raises concerns about the UKs understanding of credit scores and how they work.


Why people expect to be granted credit

% who thought this would guarantee credit acceptance

Because they’ve paid bills on time and have no outstanding credit


Because they’re registered on the electoral roll


Because they’re a homeowner


Because they already have a significant amount of credit made available to them


Because they (or their partner) earns more that £25k a year


Because they have never taken out credit/ borrowed money before



Possibly more alarming is the fact that despite three in four people thinking their credit score is in good order, almost half (48%) of UK adults have never checked it – which suggests many are making the assumption that their score is in good order. When respondents were asked why they hadn’t checked their score, they gave the following reasons:

The last of these is certainly reason for concern, given that credit check services are now available for free. Aqua credit cards has recently partnered with Noddle to launch the aqua Credit Checker, the first free full credit checking service-giving new customers access to their credit report plus two premium upgrade products; Noddle Improve and Noddle Alerts. Registered users will have unlimited access to their credit report, receive practical tips on steps they can take to improve their credit score, receive weekly alerts highlighting significant changes to their credit report (helping to prevent identity theft), plus benefit from a range of money saving vouchers and offers. Even those who may be declined by aqua can still access aqua Credit Checker, however without the premium upgrade products.

Commenting on the research, James Corcoran, CEO of aqua said: “Our research not only shows a lack of understanding of credit scores but it also means people could be applying for credit without checking their credit score first. You wouldn’t buy a house without doing a survey, nor buy a car without checking its history, so why apply for credit without checking your credit score. If your score isn’t up to scratch, you run the risk of being declined which could further impact on your score.

He added:At aqua we believe in the importance of helping creditworthy individuals who are left un-served by the mainstream credit industry and the first step is understanding credit. That is why aqua has partnered with Noddle to offer our customers free and unlimited access to their credit report and two premium upgrade products - giving them the information they need to build a better financial future.”

Tom Ilube, Founder of Noddle, commented “Given the current economic environment it’s now more important than ever for consumers to take greater control of their finances. Having free and unlimited access to your credit report will help consumers gain a better understanding of their credit history and how to improve it”.

“We strongly believe that consumers should be able to access the information that important decisions are based on. Improving education surrounding the importance of a credit score is vital and aqua is at the forefront in delivering this message”.

Aqua creates innovative credit building credit cards with rewards when customers look after their account – designed for people looking to improve or establish their credit rating. For example, the Aqua Advance rewards customers with a rate that drops 15% over three years. For more information, visit:


Top tips for improving your credit score:



Notes to editors:

*All figures unless otherwise stated are taken from research carried out in February 2013 with Research Plus Ltd. This involved the development of a typical credit check survey which was completed by a UK representative sample of 2,110 adults.


For further information, please contact:



Kelly Hollidge

Teamspirit Public Relations

020 7360 7826


T&Cs aqua Credit Checker

Access to aqua Credit Checker is subject to status of the customer’s aqua account. If a customer closes, or does not use their card for a continuous period of six months, they will lose access to aqua Credit Checker but will continue to have access to the basic noddle services.

Representative 35.9% APR (variable)


About Noddle

Noddle is a free service from credit reference agency Callcredit which offers people access to their monthly credit reports for free for life. There are no restrictions on the number of times a customer can view their credit report. “Go use your credit rating”.