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CREDIT SCORE EXPLAINED

Credit score – your credit score is important as companies use it when deciding to give you credit or not and at what rate of interest. It’s basically a credit file on you based on data they capture from many sources and includes bills, loans, and utilities. Credit score providers include Clearscore, CreditKarma and Experian.  

 

    1. How do I get my credit score? You can check your credit score at any of the major credit score companies. For example you can go to clearscore.com/whatsmyscore to get your score for FREE 
    2. How do I build my credit score? When you show that you pay bills each month and you can handle you money: by paying off credit cards of loans each months it improves your credit score 
    3. How can I improve my credit score? There are ways to boost your credit score and you can find out how to do this with experian.com/boost or at creditkarma.com/scoremore 
  • What’s the benefit of a good score? If you’re planning to take out a loan, a good credit score means that it’s likely you will be accepted and may get a better rate. In the future if you look to buy a home and need a mortgage this will be something any lender checks to find out if you can keep up regular repayments. 
  • Our top tips for you? Know the score – find out your score and know if it’s good or not. You can check it for FREE as many times as you like at experian/checkyourscore  Try to improve your score – whether is building your credit profile by using a credit card or using a tool like Boost by Experian it all helps to get you credit when you need it 

KNOW YOUR SCORE AS IT MAY GET YOU ACCEPTED FOR CREDIT AT LOWER RATES

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This information is intended for editorial purposes only and not  intended as a recommendation or financial advice