Checking your credit rating

If you’re relying on a loan or finance deal to help pay for your Figaro, it’s important you boost your credit score.

Finance lenders calculate a credit score based on details you and external agencies provide.

If you don’t meet their criteria, they could refuse your loan package application, or offer you finance at a higher rate.

• Your credit score is affected by your outgoings, bills, outstanding debt, electoral roll data, court records, fraud and account data.
• Check your credit rating online, which can sometimes reveal incorrect information which can be rectified.
• Build a good credit history by always repaying on time and staying within credit limits.
• Home owners and those in full-time employment are more likely to be granted loans than those who rent and are self-employed.