Bennett Jones can help you check your credit score before you make any financial decisions, so you can be well informed throughout the entire process.
What counts towards a good credit score?
There are many factors at play in the credit rating you have. Lenders want to see that you have repaid any previous debts, you’re able to pay new ones, and various credit accounts have been consolidated.
Bankruptcy, for instance, can have a negative impact on your credit score for several years. Other types of insolvency (such as Individual Voluntary Agreements) may also have the same effect. You can also be turned down for a loan application due to your electoral status, failure to register bills at a UK address, or using several credit cards.
Does a credit check impact your score?
Repeated applications for unapproved loans are a sign that your finances aren’t as healthy as they could be. Whenever a lender performs a credit check and turns you down, the score is lowered. That’s why it’s vital to know what your status is before making the application in the first place.
Get the necessary insight with Bennett Jones
We are able to explain your current credit score if you are struggling to understand what it means. Our team will retrieve the full, accurate picture of your rating and tell you where it may be falling short, without influencing your score.