Like us, you are curious as to what a credit score is and how it is calculated and used. right?
A credit score is a measurement of points used by finance lenders to help determine whether you qualify for a particular financial products such as a credit card, loan, or in our case car finance
Everybody that has ever applied for credit has a credit report. Lenders use the information on your credit report and any additional information you supplied during an application, to calculate a numerical score that represents your credit history. This helps to indicate what kind of borrower you are, and how likely it is that you will manage your repayments. You score positive points for making payments on time. Not using all the credit on your credit card and even for registering as being on the electoral roll!