Do you know what your credit score is? Well, did you know that having a ‘good’ credit score can boost your chances of getting a mortgage, a car on finance and even things like a mobile phone contract?
When you apply for finance, lenders look at your credit report to determine how much of a risk you are as a borrower, and therefore how much money – if any – they are prepared to lend you. Credit checks are made for most things today: credit cards, loans, cars, houses, electrical goods, mobile phone contracts and even landlords. Those with low credit scores will be given higher interest rates, or will not be able to obtain credit at all. Those with good credit scores will benefit from the best deals and low interest costs, paying less than those with bad credit scores.
So how can you get this coveted ‘good’ credit rating? To improve your credit rating, Stoneacre Financial Services have created this handy infographic to help you follow the road to good credit!
The Road to Good Credit | Stoneacre Motor Group