Check Credit Rating
Unfortunately, checking your credit rating is not an easy task.
Over the years, it has become better with the introduction of the web, but still is not the process we all hope for.
For whatever reason, everyone should know the status of their credit rating as it may hold you back in the future if you would like a house, car, or even a mobile phone on credit.
There is a global myth that each person has a "credit score" assigned to them that banks and lenders use to see how good you've been with credit.
This is false! There is three main Credit reference agencies that keep track of your credit-defaults and missed loan repayments, but no score is assigned.
Each lender is independent and will use one of the three agencies to check your status and then assign a rating based on what they've found, and their risk assessment policy.
So just because you was refused that car credit does not mean a different company will not credit you a boat.
The three main Credit reference agencies used by lenders to assign a rating to you is: 1.
Callcredit 2.
Equifax 3.
Experian Each agency compiles your status from things like..
the Electoral roll, Financial data, and Court records.
I am assuming they have other sneaky ways of snooping on us as well.
Each of those credit reference agencies will provide you with the same status and data they provide company lenders, after you've paid a fee ranging from £2 to £70 depending on the agency.
Of course, these prices may change.
I've found in many cases, you can boost your credit rating, and make companies feel more at ease, if you can get your foot in the door with something small like mobile phone credit, and keep up the repayments until your contract is up.
I think this because, regardless of amount, credit, is still credit.
Over the years, it has become better with the introduction of the web, but still is not the process we all hope for.
For whatever reason, everyone should know the status of their credit rating as it may hold you back in the future if you would like a house, car, or even a mobile phone on credit.
There is a global myth that each person has a "credit score" assigned to them that banks and lenders use to see how good you've been with credit.
This is false! There is three main Credit reference agencies that keep track of your credit-defaults and missed loan repayments, but no score is assigned.
Each lender is independent and will use one of the three agencies to check your status and then assign a rating based on what they've found, and their risk assessment policy.
So just because you was refused that car credit does not mean a different company will not credit you a boat.
The three main Credit reference agencies used by lenders to assign a rating to you is: 1.
Callcredit 2.
Equifax 3.
Experian Each agency compiles your status from things like..
the Electoral roll, Financial data, and Court records.
I am assuming they have other sneaky ways of snooping on us as well.
Each of those credit reference agencies will provide you with the same status and data they provide company lenders, after you've paid a fee ranging from £2 to £70 depending on the agency.
Of course, these prices may change.
I've found in many cases, you can boost your credit rating, and make companies feel more at ease, if you can get your foot in the door with something small like mobile phone credit, and keep up the repayments until your contract is up.
I think this because, regardless of amount, credit, is still credit.
