Your credit score is assessed by a lender to find out if you are eligible for a loan, credit card or particular financial service.From this a lender can determine the potential risk of lending to you, as well as their potential profit. People that always pay off their debts immediately could still be rejected for credit, so bear in mind that not all rejections are based on risk. If it doesn’t seem like you can make the lender any profit then they won’t have any incentive to lend to you. > s can’t see when you’ve accessed your credit report, they can see when you’ve given permission for others to access it. Too many entries can negatively affect your score, so make sure you are prudent with your applications and leave some time in between each one.
Te erlooked. If you have savings or surplus income that you can put into repaying your debts, then clearing them off will benefit you and your credit report, which can lead to lower interest rates, mortgage rates and make you eligible for borrowing larger amounts.