Whats a good Credit ScoreWhat is a good credit rating?
The higher the score, the better, and the more likely it is that you will be granted credit.
Higher scores also mean that you could be considered for better interest and better offers if you borrow or take out a home loan. Points range from 0 to 700. Your score will be divided into different tapes according to how high it is: Those ribbons are an indicator of how good your credit score is, but the score we show you, just like any other score, is just a guideline and even those with the highest credit score can be turned down for credit.
As there are a number of contributing credit rating issues, it is important to fully appreciate what these are. The best way to establish and safeguard your creditworthiness from here is to take responsible management of your finance and debts. This means always making payments on schedule and using a small fraction of your available credit.
When you have a thin data set (empty-looking finance history), the simplest way to construct credit is with a credit card. Your credit cards can be used to make credit. Issue a small amount each and every monthly and always repay it in full - this will appear on your credit reports and prove that you can handle your credit in a responsible way.
So if you are managing your financials rationally, don't rely too much on credit and can provide proof of your own personal details (e.g. on the voters list), you are in good condition to get the credit you want. Where is the discrepancy between a credit score and a credit check? What is the time it takes for my score to get better?
What can I do to increase my score? How do the different credit ratings mean? How do I score?