Credit Score | Finance

Managing your credit score is very important, almost any lender will now check to see if you can repay money and that you have not previously had a financial difficulty in settling other debts. You can keep your credit history positive by;

  1. Pay your bills on time
  2. Keep any credit card balances low and don’t close any old credit cards
  3. Manage your debt
  4. Limit applications for new credit – a history of applications will worry lenders into thinking you have financial difficulties
  5. Watch your credit report, the 3 main companies in the UK are, Experian, Equifax and TransUnion.
  6. If you spot an error in your credit report inform the provider immediately as this will impact on your availability to secure credit.
  7. Should you cause your credit score to be impacted by failure to pay bills this will impact your credit history for up to 6 years, future applications for mortgages, loans and credit may be rejected on the basis of this.
We proudly represent the academic interests of all Students at Staffordshire University. Providing advice, student groups and fantastic experiences that make us all very Proud to be Staffs.