- Formerly missed loan repayments
- Formerly missed household bill re re payments or phone that is mobile broadband contracts bills
- Defaulted on a merchant account
- Been bankrupt when you look at the last
Loan providers will run credit checks you loan offers or approving your application on you before issuing. You may want to see what your credit score is yourself, to get an idea of the type of loan product youвЂ™ll be eligible for before you apply for loans.
What exactly is a good credit history? You wonвЂ™t qualify for a bad credit loan if:
There is certainlynвЂ™t one universal credit history in the UK, but rather three credit reporting agencies which problem independent scores, on various scales. These ratings will likely be centered on your previous borrowing, payment history, your available credit, along with other information that is personal.
- Experian : issues credit ratings between 0 and 999, and any such thing below 560 is recognized as bad.
- Equifax : dilemmas fico scores of between 0 and 700. The UK average is 389 and any score below 279 is recognized as inadequate.