Your credit rating is an indicator to lending companies of how much financial risk you pose and how much profit they can make from you. A high score is better as it shows you have proven yourself to be responsible with money.
Credit ratings are used when you apply for a loan or credit – and you may be turned down if you do not score highly against that company’s criteria.
Source: MoneySavingExpert.com
Message supplied by: Rich @ Respect Yourself
