Credit Scoring or Credit Rating

The lender will contact a credit scoring company to assess the credit history of the individual. If, perhaps, they discover a trail of unpaid debt, then they will be far more reluctant to offer any credit than if it were a person that has no such problems.

Please remember that your credit score is an important piece of information for the lender, but that it is not the only factor considered when the lender makes their final decision. The key issues that most lenders, such as credit card companies, will look at alongside your credit score are:

•  Your level of income
•  Type of job (self-employed or employee)
•  Payment history
•  Whether you are a homeowner
•  Length of time at current address
•  Marital Status

• Applying for a new credit card - The chances of a successful credit card application.

• Not accepted for a credit card? - Our recommendation on your next steps, including how to check your credit rating for free.

• Credit Limits - Credit limits when you apply, and changing existing limits.

• Timing is everything - Understand how applying for a credit card affects your credit rating.

• Get your free Experian credit report and 30 day free trial of the CreditExpert Monitoring Service.

• Different Lender, Different Response - Credit card issuers have different criteria.