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…)

How does Your Credit Rating Score?

There are many processes in life that require a credit check to be carried out; loan or mortgage applications, renting a property and even applying for a mobile telephone contract. Keeping your credit rating healthy means you should not stumble upon any hurdles when it comes to having your credit history checked.

It’s important to understand how your credit rating works and what factors influence it. First and fore (more…)

Improving Your Credit Rating – Part 2

Following up on last week’s article, “Improving your Credit Rating – part 1”, this week will take you through a few more steps to build up, improve or maintain your credit rating.

1) Order a copy of your credit report

It’s wise to order a copy of your credit report every year in order to monitor any activity and changes.  There are a few reasons why you should do this annual (more…)

Credit Rating Check: Top Three Ways to Boost Your Credit Rating

Your credit rating is calculated by a credit reference agency. The agency will carry out a credit rating check by compiling information based on a variety of sources, such as the electoral role, financial data and court records. This information is sold onto lenders who will use it to decide whether to lend money or what deals to make available to the customer.

While some people are given bad credit ratings due to d (more…)

Credit Rating Scores – How to Monitor Your Rating and Improve Your Score

We’ve all been hearing a lot about credit rating scores lately, but do you really know what they are and why you need to understand your own score?

It’s pretty basic. A credit rating score is just a three-digit number that ranges from 300 to 850, and it indicates your ability to repay a loan or mortgage. Be assured that your credit score can have a significant effect on your life.

How Credit Rating Scores A (more…)

How to Check Your Credit Rating And How It Affects You

Did you know that each time you take up any kind of credit or loan, or pay one back, it adds to your credit rating. Who keeps a record on you will vary according to where you live, but the three major credit reference agencies are Equifax, Experian and Trans Union. They will supply your credit rating to any business that is considering lending to you.

What Does Your Credit Rating Reveal.

All your current debts are (more…)

Good Credit Rating Score – Increasing Your Loan Eligibility!

It takes a lot of effort and perseverance as well as dedication on the part of an individual to establish and maintain a good credit rating score. Creating a good credit history is not something that happens over night. You need to have some credit in the market in order to have a score. An average American usually starts his or her credit score with their first credit card when they are in college or with their student loan. Th (more…)