What is a Credit Rating & How To Improve Your Credit Report
What Is a Credit Score?
A credit score is a way for lenders to decide how much of a risk they are taking by lending you money. The actual credit scoring system used will vary from lender to lender and different companies will have different attitudes to risk – so although one company may reject you for credit, another may be happy to give you a credit line.
It is a myth that there is a universal credit rating or a credit ‘black list’. However if one company believes you are too high a risk and won’t lend you money, it is highly likely that many other companies will take the same view.
