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Checkmyfile.com offers you the ability to check out your credit score and credit rating which is calculated from information provided by you, and uses information held by us about the postcode you live in. We use our own specially developed scorecard to give you an idea of how a lender may rate you. This service does not make any searches of credit agencies, leaves no 'search footprints' anywhere and we do not keep any record of your results - so you can use it as often as you like, in total confidence, without any fear of adding searches to your credit file and damaging your credit rating.
Checkmyfile.com has analysed many thousands of credit files to work out which credit card and loan lenders are most likely to say yes to people with your credit rating, and can share this information with you FREE of charge to help avoid the disappointment of being turned down for credit and wasting time.
Check your credit score at: http://www.checkmyfile.com/neighbourhood.asp
How do lenders decide who to lend to?
No one has the right to credit. Before giving credit lenders such as banks loan companies and shops check whether to them you are an acceptable risk. To help them decide this they obtain information from credit reference agencies.
There is no such thing as a "blacklist" and agencies do not give an opinion about whether or not you should be given credit. The lender decides this once they have reviewed the information provided about you and by you on any application. Many lenders, but not all, operate a credit scoring system which allocates points to various pieces of information such as your age, occupation, if you are a home owner, as well as your credit record. Once these points are added together it gives a 'Credit Score' which helps the lender decide if you are an acceptable risk. Sometimes, if you have been "shopping around" for credit then there will be a number of searches recorded on your credit reference file. In some cases this may be sufficient reason for lenders to refuse to grant you any further credit even though you may have no intention of taking up all the offers. The best way to avoid this is to compare companies by rates and quotations without actually going through a full application with each one.
For more information go to: http://www.fcl.org.uk/credit_reference.php
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For more information go to: http://www.adviceonline.co.uk |