Your credit score is a number that summarises your borrowing history. Lenders use it (along with other information) to decide whether to lend to you and at what rate. Here’s the basics.
What is a credit score?
A credit score is calculated from your credit report—a record of your loans, cards, and repayments. Paying on time, not maxing out limits, and having a mix of credit over time can help. Late payments, defaults, and too many applications can hurt it.
Why does it matter?
A higher score can mean access to better rates and more loan options. A lower score can mean refusals or higher interest. It’s not the only factor—income and expenses matter too—but it’s one of the first things lenders check.
How can I check my score?
You can request a free copy of your credit report from the main reporting bodies. Some services also offer a free score. Checking your own report doesn’t harm your score; it helps you spot errors and see what lenders see.
How do I improve it?
Pay bills and repayments on time, reduce existing debt where you can, and avoid applying for lots of credit in a short period. Fix any mistakes on your report. Improvement takes time—there’s no instant fix, but consistent behaviour helps.