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Credit rating

How is credit rating calculated?

Whenever you try to get credit such as a loan, your credit score could be checked using information held by a credit reference agency.

Your credit score is a points system based on your known credit history. If you have a low credit score, you will find it hard to get credit.

How do you end up with a poor credit history and a bad credit score?

Things that affect your score include:

County Court Judgements
Missed mortgages payments
Missed loans payments
Not being on the electoral roll
Having no credit history – people want to know you’ve paid debts in the past
Not being truthful on credit applications

How do I find out if my credit record is poor?

Contact the credit reference agency – they are legally obliged to reply to you within seven days. If their information is incorrect, you can ask to have it removed.

If you would like to check your credit report, you can request one for free from Experian. Click here to visit the Experian website.

If you already know that you’ve got a poor credit record, there are ways to build it back up. A Provident Cash Loan of between £50 - £500 could help, if you keep up your repayments on time.

Find out more on how to improve your credit rating.

Know your loan

Find out more

Representative example:
£300 loan repayable over 52 weeks
52 weekly payments of £10.50
Rate of interest 82.0% p.a. fixed;
Representative 272.2%APR
Total Amount Payable is £546

Apply now with our quick form

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Copyright © Provident Financial Management Services Ltd 2009. Written quotations are available on request. Available to UK residents aged 18 and over. Applicants subject to acceptance. Provident Personal Credit Limited, Registered office: 1 Godwin Street, Bradford, BD1 2SU. Registered number 146091, England.