| Have you ever applied for credit in the form of a loan | | | | apply for credit, make sure the lender is aware that |
| but found that you have been turned down for no | | | | you are only after the initial quotation prior to making a |
| apparent reason? Your credit rating can and will affect | | | | full on application - multiple applications can go against |
| credit and loan applications so it is important to be as | | | | you. |
| careful as you can about yours. | | | | Other things to bear in mind include your address. A |
| First things first though and the first step should be | | | | lender will use this information to make sure you are |
| applying for a credit report. Several specialist | | | | who you say you are so make sure you are |
| companies now offer free credit reports that will allow | | | | registered to vote at the address you are applying |
| you to see where you have gone wrong. A credit | | | | from otherwise you may be turned down. |
| report has the added bonus of allowing you to ensure | | | | If, after you receive your credit report, it turns out you |
| you have not been the victim of identity fraud as you | | | | have a less than perfect credit rating, there are ways |
| will be able to see if anyone else has applied for credit | | | | of improving it and your chances of getting credit in the |
| in your name. | | | | form of a loan. |
| There are several reasons why you may have been | | | | One of the most important things to do is keep on top |
| turned down for credit or a loan, including a poor credit | | | | of existing debts. Missing one payment can do more |
| history. If you have debts and have missed payments | | | | damage than you think, but consistent payments on |
| or have county court judgments against your name | | | | time can also do wonders for your credit report. |
| your credit report is likely to be poor, which will affect | | | | It can also be worth signing up for small things like |
| your ability to take out a loan. | | | | store cards and paying off the balance each month in |
| Alternatively, it could be your partner's financial | | | | order to improve your credit rating. |
| problems that are scaring lenders off, so make sure | | | | However, improving your credit report cannot happen |
| they get a credit report too so you know where you | | | | over night, it takes time, effort and self control. And, if |
| stand. | | | | you have been turned down for a loan, it is often wise |
| Another thing that can affect your chances of being | | | | to work at rebuilding your report before applying again, |
| accepted for a loan is the number of credit | | | | unless you are a absolutely desperate. |
| applications you have made in the past. When you | | | | |