The short version: Your credit record (or credit score) is a number that lenders use to decide whether to lend you money. It’s based on your financial history: how you’ve handled debt, whether you pay bills on time, how much credit you have.
Why does it matter?
A good credit score makes it easier to get mortgages, loans, credit cards, even mobile phone contracts. A poor score can mean higher interest rates or outright rejection.
The government can also check your credit record when assessing benefit claims or chasing unpaid taxes.
How can I improve it?
Pay your bills on time. Don’t max out your credit cards. Register on the electoral roll. Check your credit report for errors and get them corrected. Building a good score takes time, so start early.
Self employed and struggling?
Lenders can be tougher on self employed people because your income is less predictable. Keeping clean accounts and filing your tax returns on time can help show you’re financially stable.
Worried about your credit score and how it’s affecting you? Get in touch and let’s work on a solution.
