Understanding Your Credit Score

Understanding Your Credit Score

Before you can think about buying anything on a large scale, taking out a loan, or renting, your credit score comes into question.

Credit score: a numerical expression based on a level analysis of a person's credit files, to represent the creditworthiness of an individual.

With your credit score, banks and lenders can ascertain whether or not it is safe for them to loan you money for a certain period of time. They need to know if you will be able to pay back the amount given to them in a timely manner. This is where your credit history and credit report come into play.

Credit history: a record of a borrower's responsible repayment of debts.

Credit report: a record of the borrower's credit history from a number of sources, including banks, credit card companies, collection agencies, and governments.

If you are new to the UK, you won't have . . .

To continue reading this article...

(REFRESH the page if the login form is not showing)

2
Anything you want to clarify?

Please Login to comment
1 Comment threads
1 Thread replies
0 Followers
 
Most reacted comment
Hottest comment thread
2 Comment authors
Ibreez Ajazujalyashujat Recent comment authors

  Subscribe  
newest oldest most voted
Notify of
ujalyashujat
Member
ujalyashujat

Thanks for the post! My question is how do you get a credit building credit card?

Close Menu

LOGIN TO YOUR ACCOUNT

or