{"id":15869,"date":"2018-03-08T10:59:41","date_gmt":"2018-03-08T10:59:41","guid":{"rendered":"https:\/\/www.thehouseshop.com\/property-blog\/?p=15869"},"modified":"2021-04-20T15:35:51","modified_gmt":"2021-04-20T15:35:51","slug":"why-is-a-good-credit-score-so-important","status":"publish","type":"post","link":"https:\/\/www.thehouseshop.com\/property-blog\/why-is-a-good-credit-score-so-important\/","title":{"rendered":"Why is a Good Credit Score So Important?"},"content":{"rendered":"\n<!-- SEO Ultimate Plus (https:\/\/seoultimateplus.com) - Code Inserter module -->\n<script async>(function(s,u,m,o,j,v){j=u.createElement(m);v=u.getElementsByTagName(m)[0];j.async=1;j.src=o;j.dataset.sumoSiteId='b68b392479b5981b8acf46565e9fe32a0734fc21a1f7c1e60121eaa6ca1a1c64';v.parentNode.insertBefore(j,v)})(window,document,'script','\/\/load.sumo.com\/');<\/script>\n<!-- \/SEO Ultimate Plus -->\n\n[vc_row][vc_column][vc_column_text]<span style=\"font-weight: 400;\">First things first, let\u2019s start with the basics:<\/span><\/p>\n<h2><b>What is a credit score?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Your credit score is essentially how likely you are to pay back the credit. When a lender looks at your credit history, they are looking at how much of a liability you are, whether you are financially trustworthy and what level of risk you are. If you have a good record of on-time payments then you are likely to have a high credit rating: the higher the better.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Conversely, if you regularly make late payments or have arrears, then your credit rating will be on the lower end. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Credit history is taken into account for many different things, including:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Credit cards<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Loans<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Mortgages<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Insurance<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Bill payments<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Rentals<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Car finances<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The aim is to have as <a href=\"http:\/\/www.experian.co.uk\/blogs\/consumer-advice\/what-is-good-credit-score\/\">good a credit score<\/a> as possible: the higher the score, the better loans, insurances and deals you are likely to get. <\/span><\/p>\n<h2><b>How is my credit score decided?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">There are three major credit reference agencies in the UK; <\/span><a href=\"https:\/\/www.equifax.co.uk\/index.html\"><span style=\"font-weight: 400;\">Equifax<\/span><\/a><span style=\"font-weight: 400;\">, <\/span><a href=\"https:\/\/www.experian.co.uk\"><span style=\"font-weight: 400;\">Experian <\/span><\/a><span style=\"font-weight: 400;\">and <\/span><a href=\"https:\/\/www.callcredit.co.uk\/\"><span style=\"font-weight: 400;\">Callcredit<\/span><\/a><span style=\"font-weight: 400;\">. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">These three agencies collate as much information as they can about your credit history and use this to decide your credit score.<\/span>[\/vc_column_text][vc_column_text]\n<h3 style=\"text-align: center;\">A good credit score:<\/h3>\n[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/3&#8243;][vc_column_text]\n<h3 style=\"text-align: center;\"><a href=\"https:\/\/www.callcredit.co.uk\/\">Callcredit<\/a><\/h3>\n[\/vc_column_text][vc_hoverbox image=&#8221;15876&#8243; primary_title=&#8221;&#8221; hover_title=&#8221;Out of 5&#8243;][\/vc_hoverbox][\/vc_column][vc_column width=&#8221;1\/3&#8243;][vc_column_text]\n<h3 style=\"text-align: center;\"><a href=\"https:\/\/www.equifax.co.uk\/\">Equifax<\/a><\/h3>\n[\/vc_column_text][vc_hoverbox image=&#8221;15877&#8243; primary_title=&#8221;&#8221; hover_title=&#8221;Out of 700&#8243;][\/vc_hoverbox][\/vc_column][vc_column width=&#8221;1\/3&#8243;][vc_column_text]\n<h3 style=\"text-align: center;\"><a href=\"https:\/\/www.experian.co.uk\">Experian<\/a><\/h3>\n[\/vc_column_text][vc_hoverbox image=&#8221;15878&#8243; primary_title=&#8221;&#8221; hover_title=&#8221;Out of 999&#8243;][\/vc_hoverbox][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<span style=\"font-weight: 400;\">Your credit score is a result of various factors which are all taken into account to create your credit report.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here are a few of those factors:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Public records; such as electoral rolls, etc.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Previous credit searches<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Credit payment history<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Current credit cards etc.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">This information is collated and taken into consideration as part of reaching the final credit figure. <\/span><\/p>\n<h2><b>What can affect my credit score?<\/b><\/h2>\n[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_images_carousel images=&#8221;15902,15882,15883,15884,15885&#8243; img_size=&#8221;large&#8221; speed=&#8221;2000&#8243; autoplay=&#8221;yes&#8221; hide_prev_next_buttons=&#8221;yes&#8221; wrap=&#8221;yes&#8221;][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<span style=\"font-weight: 400;\">Your credit score is a flexible figure which fluctuates depending on your financial loyalty. Taking control of your financial behaviour is key to getting and maintaining, a strong credit score. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here are a few things to be aware of that can affect your credit score:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\">\n<h3><span style=\"font-weight: 400;\">History<\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Your financial history plays a large part in the final decision of your score. If you have a bad record of not paying bills on time, then this will reflect badly on your report. <\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Alternatively, if you have a small history then this can also be held against you; having little information about your financial behaviour means that you are potentially higher risk to lenders, as there is no proof of your liability either way.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Keep on top of payments and you can build a good score, as well as keeping a squeaky clean history which will only look good to potential lenders.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\">\n<h3><span style=\"font-weight: 400;\">Credit Applications<\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">If you make lots of applications for credit it can make you look a little desperate and suspicious to potential lenders. Each application stays on your record for a year, so try and keep those applications down so your credit score can stay up.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\">\n<h3><a href=\"https:\/\/www.gov.uk\/register-to-vote\"><span style=\"font-weight: 400;\">Register to Vote<\/span><\/a><\/h3>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">No, it doesn\u2019t matter if you are conservative or liberal. Your place on the <\/span><a href=\"https:\/\/www.callcredit.co.uk\/consumer-solutions\/help\/why-is-it-important-to-register-on-the-electoral-roll\"><span style=\"font-weight: 400;\">electoral register<\/span><\/a><span style=\"font-weight: 400;\"> gives lenders proof of address and confirmation of your identity.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\">\n<h3><span style=\"font-weight: 400;\">Low Balances<\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Keep your balances low; it proves that you are a low risk to potential lenders, as you pay off credit and keep up-to-date with your payments.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\">\n<h3><span style=\"font-weight: 400;\">Stability<\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Try not to move house too often, or change jobs. Stability is a good attribute in the eyes of a lender.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Your credit score is not affected by things like; sex, religion, age, salary, location etc. Lenders may take into account factors such as salary when considering loan applications, but your credit score will not change because of these circumstances. <\/span><\/p>\n<h3 style=\"text-align: center;\"><i>Remember: A good credit score does not mean you will get credit or good interest rates. These are dependent on the lender. <\/i><\/h3>\n<p><span style=\"font-weight: 400;\">Each lender has its own specifications for credit. So if you are rejected by one company, you might still be accepted by another. But it is important to<\/span><a href=\"https:\/\/www.experian.co.uk\/consumer\/credit-education\/refused-credit.html\"><span style=\"font-weight: 400;\"> find out why you were rejected<\/span><\/a><span style=\"font-weight: 400;\">, or at least check your application for errors. \u00a0<\/span><\/p>\n<h2><b>So why is my credit score so important?<\/b><\/h2>\n<h3><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/the-changing-housing-market-how-will-it-impact-buyers-with-less-than-perfect-credit\/11422\/\"><b>Mortgages<\/b><\/a><\/h3>\n<h3><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/the-changing-housing-market-how-will-it-impact-buyers-with-less-than-perfect-credit\/11422\/\"><b>\u00a0<img loading=\"lazy\" class=\"alignnone wp-image-15890 size-large\" title=\"Mortgage\" src=\"https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/mortgage-1-600x400.jpg\" alt=\"\" width=\"600\" height=\"400\" srcset=\"https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/mortgage-1-600x400.jpg 600w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/mortgage-1-260x173.jpg 260w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/mortgage-1-768x512.jpg 768w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/mortgage-1-100x67.jpg 100w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/mortgage-1-150x100.jpg 150w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/mortgage-1-200x133.jpg 200w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/mortgage-1-300x200.jpg 300w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/mortgage-1-450x300.jpg 450w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/mortgage-1-900x600.jpg 900w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/mortgage-1.jpg 1200w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/b><\/a><\/h3>\n<p><span style=\"font-weight: 400;\">If you have a bad credit score, more often than not, you can say goodbye to most mortgage providers. If your application is approved, then your credit will be directly impacted by your monthly payments and subsequently affect your interest rates. It all goes around in circles really. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">But if you can\u2019t afford to buy a house, you are still not free from credit checks. Many landlords and <a href=\"https:\/\/www.thehouseshop.com\/let-for-free\" title=\"letting agents\">letting agents<\/a> now require<\/span><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/can-landlords-do-credit-checks\/11370\/\"><span style=\"font-weight: 400;\"> credit checks from potential tenants<\/span><\/a><span style=\"font-weight: 400;\">. They want to ensure that tenants are going to <\/span><a href=\"https:\/\/www.thehouseshop.com\/rentscore\"><span style=\"font-weight: 400;\">frequently pay their rent<\/span><\/a><span style=\"font-weight: 400;\">, otherwise, they are a risk to the landlords&#8217; rental income. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">You can also make your rent payments count towards your credit score. Simply sign up for <\/span><a href=\"https:\/\/www.thehouseshop.com\/rentscore\"><span style=\"font-weight: 400;\">RentScore<\/span><\/a><span style=\"font-weight: 400;\"> and your on-time payments will be rewarded with an improved credit rating. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Find out more about <\/span><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/can-landlords-do-credit-checks\/11370\/\"><span style=\"font-weight: 400;\">RentScore here.<\/span><\/a><\/p>\n<h3><b><a href=\"https:\/\/www.thehouseshop.com\/rentscore\"><img loading=\"lazy\" class=\"alignnone wp-image-15821 size-large\" src=\"https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/RentScore-Email@2x-1-1-600x331.jpg\" alt=\"\" width=\"600\" height=\"331\" srcset=\"https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/RentScore-Email@2x-1-1-600x331.jpg 600w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/RentScore-Email@2x-1-1-260x143.jpg 260w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/RentScore-Email@2x-1-1-768x424.jpg 768w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/RentScore-Email@2x-1-1-100x55.jpg 100w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/RentScore-Email@2x-1-1-150x83.jpg 150w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/RentScore-Email@2x-1-1-200x110.jpg 200w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/RentScore-Email@2x-1-1-300x166.jpg 300w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/RentScore-Email@2x-1-1-450x248.jpg 450w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/RentScore-Email@2x-1-1-900x497.jpg 900w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/RentScore-Email@2x-1-1.jpg 1200w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/a><\/b><\/h3>\n<h3>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_btn title=&#8221;Become a Super Landlord now&#8221; color=&#8221;danger&#8221; size=&#8221;lg&#8221; align=&#8221;center&#8221; link=&#8221;url:https%3A%2F%2Fwww.thehouseshop.com%2Frentscore||target:%20_blank|&#8221;][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/2&#8243;][vc_tweetmeme type=&#8221;follow&#8221; follow_user=&#8221;@RentScoreUK&#8221; large_button=&#8221;true&#8221;][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_facebook][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<\/h3>\n<h3><b>Cars<\/b><\/h3>\n<p><span style=\"font-weight: 400;\"><img loading=\"lazy\" class=\"alignnone wp-image-15891 size-large\" title=\"Purchase a car\" src=\"https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/buy-car-600x398.jpg\" alt=\"\" width=\"600\" height=\"398\" srcset=\"https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/buy-car-600x398.jpg 600w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/buy-car-260x173.jpg 260w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/buy-car-768x510.jpg 768w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/buy-car-100x66.jpg 100w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/buy-car-150x100.jpg 150w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/buy-car-200x133.jpg 200w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/buy-car-300x199.jpg 300w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/buy-car-450x299.jpg 450w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/buy-car-900x598.jpg 900w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/buy-car.jpg 1024w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/span><\/p>\n<p><span style=\"font-weight: 400;\">Many of us are not able to pay upfront with cash, and therefore we require loans to pay for purchases such as cars.<a href=\"https:\/\/www.moneysavingexpert.com\/car-finance\/personal-car-loans\"> Car loans<\/a> are significantly smaller than mortgages, however, they work in a similar way. A lower credit score means a higher interest rate and a larger deposit. Furthermore, as previously mentioned, regular payments will positively affect future loans.<\/span><\/p>\n<p><b>Jobs<\/b><\/p>\n<p><span style=\"font-weight: 400;\"><img loading=\"lazy\" class=\"alignnone wp-image-15892 size-large\" title=\"Jobs, interview\" src=\"https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/interview-600x400.jpg\" alt=\"\" width=\"600\" height=\"400\" srcset=\"https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/interview-600x400.jpg 600w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/interview-260x173.jpg 260w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/interview-768x511.jpg 768w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/interview-100x67.jpg 100w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/interview-150x100.jpg 150w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/interview-200x133.jpg 200w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/interview-300x200.jpg 300w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/interview-450x300.jpg 450w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/interview-900x599.jpg 900w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/interview.jpg 1000w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/span><\/p>\n<p><span style=\"font-weight: 400;\"><\/span>Employers frequently run credit checks on potential employees. A positive <a href=\"https:\/\/www.thehouseshop.com\/tenant-referencing  \" title=\"credit check\">credit check<\/a> proves that you are financially responsible and is often taken into consideration for promotions, as well as new jobs.<\/p>\n<h3><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/the-rise-and-fall-of-household-bills\/301\/\"><b>Monthly Bills<\/b><\/a><\/h3>\n<p><span style=\"font-weight: 400;\"><img loading=\"lazy\" class=\"alignnone wp-image-15893 size-large\" title=\"Bills to Pay\" src=\"https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/bills-600x305.jpg\" alt=\"\" width=\"600\" height=\"305\" srcset=\"https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/bills-600x305.jpg 600w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/bills-260x132.jpg 260w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/bills-768x391.jpg 768w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/bills-100x51.jpg 100w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/bills-150x76.jpg 150w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/bills-200x102.jpg 200w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/bills-300x153.jpg 300w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/bills-450x229.jpg 450w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/bills-900x458.jpg 900w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/bills.jpg 1000w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/span><\/p>\n<p><span style=\"font-weight: 400;\">This one often comes as a shock to some people. But yes, utility bill companies often require credit checks so they can establish your account. Think of it as a loan, they are loaning you their electricity and they expect you to pay them through regular on-time payments. Even things like mobile phone contracts require good credit scores.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">These bills work both ways, as much as they require you to have a good credit score, they also affect it. If you continue to make regular payments then it can improve your score and, subsequently, impact your future deals.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Com<\/span>panies such as <a href=\"https:\/\/www.britishgas.co.uk\/\"><span style=\"font-weight: 400;\">British Gas<\/span><\/a><span style=\"font-weight: 400;\">, <\/span><a href=\"https:\/\/www.thameswater.co.uk\/\"><span style=\"font-weight: 400;\">Thames Water <\/span><\/a><span style=\"font-weight: 400;\">and <\/span><a href=\"http:\/\/www.bt.com\/\"><span style=\"font-weight: 400;\">BT,<\/span><\/a> <a href=\"https:\/\/www.moneysavingexpert.com\/loans\/credit-rating-credit-score\"><span style=\"font-weight: 400;\">share their customers&#8217; data with credit agencies<\/span><\/a><span style=\"font-weight: 400;\">; meaning that it is more important than ever to make sure that you pay your bills on time. <\/span><\/p>\n<h3><b>Circle of Credit<\/b><\/h3>\n<p><span style=\"font-weight: 400;\"><img loading=\"lazy\" class=\"alignnone size-full wp-image-15894\" src=\"https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/circle-of-life.gif\" alt=\"\" width=\"245\" height=\"170\" \/><\/span><\/p>\n<p><span style=\"font-weight: 400;\">The good thing about your credit score is that it isn\u2019t fixed. It is a fluid figure that can rise and fall, all depending on your financial behaviour. And it isn\u2019t too late! There are always ways you can improve your credit rating and your chance of landing your dream job, whilst living in your dream home. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Don\u2019t underestimate the importance of your credit score, but also don\u2019t feel disheartened if that score is low. You can always amend your finances, and with so many ways to alter your score, and with different lenders using various specifications, you are always likely to find something that works for you. <\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<h2><b><i>Related Articles<\/i><\/b><\/h2>\n<h3><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/the-changing-housing-market-how-will-it-impact-buyers-with-less-than-perfect-credit\/11422\/\"><i><span style=\"font-weight: 400;\">The Changing Housing Market: How will it impact buyers with less than perfect credit?<\/span><\/i><\/a><\/h3>\n<h3><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/can-landlords-do-credit-checks\/11370\/\"><i><span style=\"font-weight: 400;\">Can Landlords do Credit Checks?<\/span><\/i><\/a><\/h3>\n<h3><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/dont-let-a-poor-credit-rating-prevent-you-from-renting\/2804\/\"><i><span style=\"font-weight: 400;\">Don\u2019t Let a Poor Credit Rating Prevent You From Renting<\/span><\/i><\/a><\/h3>\n<h3><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/why-you-should-check-your-credit-score-before-you-move-home\/12531\/\"><i><span style=\"font-weight: 400;\">Why You Should Check Your Credit Score Before You Move Home<\/span><\/i><\/a><\/h3>\n[\/vc_column_text][\/vc_column][\/vc_row]\n","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column][vc_column_text]First things first, let\u2019s start with the basics: What is a credit score? Your credit score is essentially how likely you are to pay back the credit. When a lender looks at your credit history, they are looking at how<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/why-is-a-good-credit-score-so-important\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":41,"featured_media":15913,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"wl_entities_gutenberg":"","_lmt_disableupdate":"","_lmt_disable":"","spay_email":""},"categories":[7,15,1,13,16],"tags":[643,546,645,640,642,547,644,502,51,204,298,641,47,462],"wl_entity_type":[602],"modified_by":"THS","_wl_alt_label":[],"jetpack_featured_media_url":"https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/good-credit-score.png","wl:entity_url":"http:\/\/data.wordlift.io\/wl0502\/post\/id\/15869","_links":{"self":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/15869"}],"collection":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/comments?post=15869"}],"version-history":[{"count":25,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/15869\/revisions"}],"predecessor-version":[{"id":24638,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/15869\/revisions\/24638"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media\/15913"}],"wp:attachment":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media?parent=15869"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/categories?post=15869"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/tags?post=15869"},{"taxonomy":"wl_entity_type","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/wl_entity_type?post=15869"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}