How can I check my credit score?

Your credit score reflects your money habits. It tells lenders if you’re good at managing your money and paying back what you borrow. But how can you check your credit score and why is it so important? This guide explains everything you need to know about checking your credit score in easy-to-understand terms.

What is a credit score? 

A credit score is a number that indicates how reliable you are in borrowing money and repaying it. In the UK, credit scores usually range between 0 and 999. A higher score increases your chances of getting approved for loans, credit cards, or even a mobile phone contract.

Credit bureaus work out credit scores using information about your financial behaviour. This includes: 

  • How often you pay bills on time.
  • How much money you owe.
  • Whether you’ve borrowed money before.
  • How long you’ve had credit accounts.
  • If you’ve ever missed payments or defaulted on loans.

For more information, read our guide: How does credit scoring work?

Why is a credit score important? 

Your credit score helps banks, lenders, and other companies decide whether to lend you money or offer services. Knowing your credit scores can help you see if you can get new credit cards or loans.

If you have a low score, you might not receive approval, or you could end up paying higher interest rates. A good credit score can open more opportunities, like getting a mortgage or a car loan with better terms.

Where can I check my credit score? 

In the UK, there are three main credit reference agencies. Theses agencies can provide your credit score: Experian, Equifax, and TransUnion.

You can check your credit score for free using the agencies' websites or apps. Additionally, some banks, credit unions, lenders, and credit card issuers provide free access to your credit score.

How can I check my credit score? 

Checking your credit score is simple and it doesn’t take long. Follow these steps:

Choose a credit reference agency.

Select one of the three credit report companies: Experian, Equifax, or TransUnion. You can also use a free service from banks, credit unions, lenders, or credit card issuers.

Sign up for credit check services.

Create an account with the agency or service. You’ll need to provide some personal details to verify your identity.

Verify your identity.

Be prepared to answer questions about your financial history, like previous addresses or loan accounts.

Check your score.

Once you verify your identity, you’ll be able to see your credit score and often your credit report.

Most agencies also give you tips to improve your score and track changes over time. Keep in mind that signing up for these services is usually safe, and it won’t affect your credit score.

Will credit check affect my credit score? 

No, you can check your credit score without affecting it. You are the only one who can see your credit score when you run a "soft check." Soft checks happen when you check your credit score or when a company checks your score to pre-approve an offer, like a credit card or loan.

A hard search, on the other hand, happens when a company performs a detailed credit check—typically when you formally apply for credit or submit a full application for credit. Hard checks can slightly lower your score because they show that you’re actively seeking credit. Multiple hard checks in a short time can have a bigger impact, so it’s best to limit how often you apply for credit.

Can I check my credit score multiple times? 

Yes, you can check your credit score as often as you like without harming it when you run soft checks. Regularly checking your score is a good habit because it helps you:

  • Stay informed about your financial health.
  • Spot any incorrect information on your credit report.
  • Notice signs of identity theft or fraud.
  • Monitor your progress if you’re trying to improve your score.
  • Give you confidence when applying for credit.

How often should I check my credit score? 

Checking your credit score at least once a year is a smart way to understand your circumstances. You should also check it before applying for a loan, credit card, or mortgage. Regularly reviewing your score helps you stay on top of your finances and fix any issues quickly. If you notice a sudden drop in your score, you can investigate the reason and take action.

Summary

Understanding and checking your credit score is not complicated. Knowing what a credit score is can help you make better financial choices.

You can find your credit score and check it safely. This will boost your chances of getting approved for credit. Regularly reviewing your score is a simple way to stay in control of your money and ensure your financial health stays on track.

If you're considering a secured loan, speak with a qualified advisor at Central Trust. When you go through the initial stages of an enquiry, we conduct a soft search. This type of search does not harm your credit scores. Contact us free of charge at 0800 980 6273, or complete our enquiry form, and we will return your call at a convenient time.

 

 

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON YOUR HOME, THE LENDER MAY REPOSSESS IT.