How do I find out about my credit rating?

How do I find out about my credit rating?

Your credit rating can be provided to you by credit referencing agencies such as Experian and Equifax, who will send you a credit report. We can't provide any information on your credit file.

What is a credit rating?

Your credit rating is used to help lenders decide whether to lend you money, how much to lend to you, and sometimes, how much interest to charge. This applies to most financial products such as mortgages, credit cards, loans, and bank accounts.

It's important to check your credit rating from time to time. Your account conduct will have an effect on your credit rating, so it's good to have knowledge of how you're doing. This means that before you apply for a product, you'll have some confidence knowing what the outcome may be.

How does it affect my application?

Your credit rating will influence whether or not you can have the product you have applied for. If you have a poor credit rating, it might prevent you from successfully applying for the product.

What if I have a poor credit rating?

You can manage your bank account in a way which will help to improve your credit rating. This means that further down the line you may then be able to successfully take out the product you originally applied for. Take a look at our Managing your money page(opens in a new window) for some great tips and tools to help you run your accounts in an efficient way.

What if I think my credit rating is wrong?

Once you have your credit report, if you notice something that seems strange or looks wrong, then in the first instance you should contact the specific lender to query it. If you think some of your details are wrong or missing, then you can request that they are updated by the credit referencing agency you got the report from. An incorrect or inaccurate credit file could potentially mean you are declined for the product you want.

Take a look at our Getting everything in order section(opens in a new window) for more useful information.

Your home may be repossessed if you do not keep up repayments on your mortgage