Filed Under: Lifestyle
Most people are aware that they need to have a good credit score in order to borrow money. But what is actually included in your credit score? Your bank, credit-card providers and other creditors will track your purchases and payment habits and these are reported to credit reference agencies. They may look into your working history and whether you are a homeowner to give a clearer picture of what kind of risk you may be. So why is it important to know your credit score and how can you find out your score?
You can compare credit report providers at MoneySupermarket and pick the one which best suits your needs.
It is particularly important to know your credit score if you are thinking of applying for more credit. If you wish to make a large purchase such as a house or a car then it is a good idea to check your credit report before you apply to a lender. Then you can see what your chances are of obtaining credit and whether there is any information about you which is incorrect.
Learn About Your Credit Score
You can find out your credit score by applying to one of the main credit reference agencies, such as Experian or Equifax.
You can apply to see your credit score whenever you want, whether it is just a one-off to make sure your rating is good enough to obtain credit or whether you need to see it more often. If you need to check your score regularly then it may be best to pay monthly and receive regular updates. You can compare credit report providers at MoneySupermarket to see which deal is best for your situation.