Your credit score is a score which reflects how likely you are to be accepted for credit. Your score is based on your credit report – a record of how you have handled credit in the past. Personal loans and credit cards are examples of credit which is reflected in your report. Making repayments on time and in full will benefit your score whilst missed payments and defaulting on loans will negatively affect your score.

Often people without a robust credit history can also have difficulty securing loans, credit cards or buying things on finance such as a car. This is because a good credit score is created to show lenders the risk in lending to someone. Whilst someone without an active credit history does not demonstrate a high risk they also have no proof that they are reliable. For this reason it is important to build your credit history and therefore your credit score. Credit building credit cards for instance are easier to be accepted for, typically have small limits, and are designed with the purpose of helping someone start to create a credit profile.

Using the tools listed below you can check your credit score to track your progress and see where you currently stand as this will indicate whether or not you will be accepted for loans and credit cards etc.