How to improve your credit rating

2. What is a credit score and what is it for?

Your credit score is used by lenders to establish how much risk would be involved if they decided to lend to you. You could therefore say that your credit report is your key to any future credit you wish to take out.

The higher your credit score, the better. This will make it easier for you to get credit and at a cheaper rate.

If your credit score is low, you are more likely to be rejected for credit or, if you do get it, be charged a higher APR for the privilege.

If you have a bad credit history, and therefore a bad credit rating, you need to be able to understand what everything means within your report in order to go on to improve it.

On the other hand and you think you have a good credit history, that’s great. However, this shouldn’t prevent you from looking over your report annually. If you do this you will be able to see if anyone has attempted to commit identity fraud at your expense and also if there is anything you can do to make your good credit score into an excellent one.

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Guide contents

1. What is a credit report?
2. What is a credit score and what is it for?
3. How to get your credit report
4. How to get the most from your credit report
5. Who to contact about errors on your credit report 
6. Tips to improve your credit rating
7. Helpful contacts for credit rating information