How to find out the effect of my credit rating
The information below may help you understand a little more about funding home improvements.
However, if you would like to speak to one of our team to help you further, just
fill in an online enquiry
form and we'll call you right back - or call us now on 01902 585 016.
What is a credit rating?
A credit rating is a score used by anyone providing credit, to help estimate whether
you qualify for a particular service, credit card or loan. A detailed mathematical
model analyses the credit information you have available in your credit report and
produces a rating or score. Many lenders consider this credit score when deciding
whether to provide you with credit. To the lender, a credit rating is a measure
of the risk they will be taking by lending to you. It gives them an indication of
the likelihood that you may fail to make some repayments. It is possible to check
your credit report at any credit reference agency.
What factors affect my credit rating?
Several pieces of information are assessed when calculating your credit rating.
Depending on who is calculating the rating, these may vary and be measured slightly
differently. It is likely that the following will be assessed: payment history,
current debt, number of accounts, county court judgments (CCJs) and the length of
credit history available. Each of these factors, and more, will be taken into consideration,
and a particularly good or bad performance in one area will not necessarily determine
your overall rating.
What is the effect of my credit rating?
At Promise Loans, our customer service team can help, even if you have a poor credit rating.
We can arrange loans even if you have had problems keeping up payments in the past,
have arrears or a county court judgement (CCJ) against you. It costs nothing to
find out what we can offer you. If you would like to speak to one of our team, just
fill in an online enquiry
form and we'll call you right back - or call us now on 01902 585 016.
At Promise Loans, our friendly team will help you find the best financial solution to
suit your individual needs.
Promise Loans can put you back in control