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How is credit rating calculated?
Whenever you try to get credit such as a cash loan, your credit score could be checked using information held by a credit reference agency. Your credit score is a points system based on your known credit history. If you have a low credit score, you will find it hard to get credit. How do you end up with a poor credit history and a bad credit score?Things that affect your score include: ● County Court Judgements● Missed mortgages payments● Missed loans payments● Not being on the electoral roll● Having no credit history – people want to know you’ve paid debts in the past● Not being truthful on credit applications How do I find out if my credit record is poor?
Contact the credit reference agency – they are legally obliged to reply to you within seven days. If their information is incorrect, you can ask to have it removed. If you would like to check your credit report, you can request one for free from Experian. Click here to visit the Experian website. If you already know that you’ve got a poor credit record, there are ways to build it back up. A Greenwood Cash Loan of between £100 - £500 could help, if you make all of your repayments on time. Find out more on how to improve your credit rating.
Representative example:£200 loan repayable over 32 weeks 32 weekly payments of £10.00 Rate of interest 97.5% p.a. fixed;Representative 399.7%APR Total Amount Payable is £320
Compare the price of home collected and other cash loans available in your area at www.lenderscompared.org.uk
Copyright © Provident Financial Management Services Ltd 2011. Written quotations are available on request. Available to UK residents aged 18 and over. Applicants subject to acceptance. Greenwood Personal Credit Limited, Registered office: 1 Godwin Street, Bradford, BD1 2SU. Registered number 125150, England.