How do I find out about my credit rating?

Opt in to Know you credit score on your mobile app to see your credit score and full credit report. You can also keep track of any changes to your report using in-app credit alerts.

 

What is a credit rating?

 

Your credit rating is used to help lenders decide whether to lend you money, how much to lend to you, and sometimes, how much interest to charge. This applies to most financial products such as mortgages, credit cards, loans, and bank accounts.

It's important to check your credit rating from time to time. Your account conduct will have an effect on your credit rating, so it's good to have knowledge of how you're doing. This means that before you apply for a product, you'll have some confidence knowing what the outcome may be.

 

How does it affect my application?

 

Your credit rating will influence whether or not you can have the product you have applied for. If you have a poor credit rating, it might prevent you from successfully applying for the product.

 

What if I have a poor credit rating?

 

You can manage your bank account in a way which will help to improve your credit rating. This means that further down the line you may then be able to successfully take out the product you originally applied for. Regularly checking your credit report in your mobile app will help you understand what is affecting it and how you can improve your score.

 

What if I think my credit rating is wrong?

 

If you think some of your details are wrong or missing, open up Know Your Credit Score in the mobile app to raise a dispute with TransUnion. You can track the progress of the dispute in the mobile app too. An incorrect or inaccurate credit file could potentially mean you are declined for the product you want.