Your credit rating will be based upon the given information held about you by credit reference agencies. Often that is called a credit file, however it is according to your credit rating.
Many potential loan providers have an interest in your newest financial predicament because that presents most obviously exactly how safe its to provide for you. Your credit history will show your statement of finance for the final six years as a whole. As an example, then that can harm your score if you have ever missed payments or received a County Court Judgement (CCJ.
Consequently, a poor credit rating causes it to be harder to have that loan as it implies that you’ll probably be classed a riskier debtor.