Credit Rating – What is it and How Can you Improve It?

Credit rating systems are used by lenders to help predict the likelihood of a customer repaying a debt. They exist solely to maximise company profits, by helping to eliminate customers deemed as a poor investment.

Being classified as a ‘poor investment’ doesn’t necessarily mean that you are viewed as unreliable. For example, credit card companies may reject your application if you have a habit of repaying (more…)