I'm confused about my credit history - can you give me help and advice?

By: emma.sutherland     Approved by the Car Finance Advisory Board

Welcome to the Credit History Help section. Here we have introduced some of the more popular topics that our customers ask about when they need to know more about credit history. We hope to demystify the common questions on what affects your credit file, including queries on what would negatively impact a credit history score and what needs to be done to improve or maintain an attractive score.

I think I have bad credit history, what are my next steps?

Within our Bad credit score section we discuss the common queries that relate to bad credit, including whether a County Court Judgment (CCJ) will affect credit history, and how long defaults stay on your credit file. View the common concerns relating to when a credit history check identifies that you have Bad credit.

In this section: Default    IVA    Bankrupt    CCJ    

How can I check my credit history?

We explain more about how credit scoring works and how you can keep check of your credit history in our popular Q&A section on Credit Files. We also explain how it works and what it's used for.

In this section: About your credit file    Requesting a credit report

How can I improve my credit score?

This is a very popular topic, and something that we're hugely passionate about. As ethical lenders we're keen to help educate our customers on how to improve their credit history and check their performance. Find out more about steps you need to take to improve your credit history.

In this section: Regular Repayments    Time at Address    Electoral Roll   

I have no credit history - can I still get finance?

Building a credit history is a challenge everybody needs to face in order to be more likely to get credit. It’s possible that you've started to build a credit history without realising it, with products such as mobile phone contracts and store cards. In terms of car finance, lenders generally look for more advanced credit arrangements to base their lending on - such as credit cards, mortgages and loans.

If you need to build your credit profile from scratch, there are options available to you, such as special credit cards designed for this purpose.

If you apply for car finance with no credit history, you still have some options open to you. You may be required to pay a substantial deposit to offset the risk the lender would take with granting you access to credit. Alternatively, you may be able to take advantage of a parent’s good credit history and request for them to be a Guarantor. Similarly, if you have a partner with good credit, it’s possible to start a joint car finance application, which could be helpful if you have no credit history yourself. There are risks however, and you should make sure it’s the best decision for both of you when setting off down this particular road.

Introducing the Credit Clinic

Understanding your credit rating, what it means, and what steps you can take to improve it can be very difficult to understand for those unfamiliar with finance. To help improve knowledge and understanding, we have created a Credit Clinic that explains in detail about credit ratings. This includes details on the five main types of credit rating, the problems that can negatively affect your credit rating, steps you can take to start repairing your file, and resources you can contact should you need more serious help. Visit the Credit Clinic to find out more

Published: 16/05/2016
Last Updated:19/07/2016
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If you require further assistance, our team of Customer Advisors are here to help. We're open six days a week - you can view our opening hours here - and we're more than happy to answer your questions.