Credit score


A credit score (also referred to as a credit rating) is a number issued by credit reference agencies and used by lenders to determine your creditworthiness.

Whether you’re applying for a credit card, personal loan, mortgage, or car finance - your credit score will have a significant impact on your eligibility.


How does it work?

Your credit score is calculated based on the information on your Credit Report. This includes details regarding your address, employment and financial history.

Your financial history includes whether you have previously borrowed credit responsibly.

And whether you have made your payments on time. If you miss a payment, this will show up on your credit report and will have a negative effect on your credit score.


Why is my credit score important?

A good credit score will not only improve your chances of acceptance but will also help you access the best Interest Rates.

If you have a poor credit score, you will be considered a higher risk by the lender, and as a result you’ll likely be charged a higher APR compared to someone with a perfect credit score.


How do I check my credit score?

You can check your credit score online for free, using one of the 3 the main credit reference agencies:


What is a good credit score?

Your credit score will be categorised into 1 of 5 bands:

  • Excellent
  • Good
  • Fair
  • Poor
  • Very poor

Each credit reference agency uses a different scoring system, so you may find a good credit score with one credit reference agency is categorised as poor with another.

For example, Experian’s maximum credit score is 999, Transunion’s is 710 and Equifax’s is 700.

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Check your eligibility today without affecting your credit score and receive an instant decision.

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