Your credit rating may not be front of mind when you’re thinking of applying for a loan, but those numbers could have a real effect on your borrowing power.
Your credit score is a rather mighty three-digit number that indicates to lenders how reliable you are at borrowing and repaying money, from ‘very poor’ to ‘excellent’.
Sadly most people aren’t clued up on their own position until the time comes to go to the bank, but one app is empowering people to make the right choices to put them in the best position when applying.
ClearScore is the UK’s number one credit score and report app* and aims to take the anxiety out of applying for credit. It’s clear, calm, and easy to understand.
Life is better when you are clear and this app helps provide 19million users with the clarity needed on where they stand financially at every step towards achieving their goals, from knowing their current score, and understanding how to improve it, to tracking progress with weekly updates.
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One of ClearScore’s users, Suzie, says she recommends the app to everyone ‘for the most part because it’s free’, but insists the app has given her peace of mind when it comes to her finances.
Not only does ClearScore – which remains free, not just for a trial period – determine your credit score, but it shares weekly updates and lets you know if anything has changed with your score so you can keep track.
Suzie started using the app when she was thinking about buying her first home and realised her score wasn’t very good.
‘Once my credit score started to improve, I then started to get offers through,’ she explains. ‘I learned more about interest rates and what they actually materialised into on a monthly basis.’
Suzie goes on to add that much like her, her partner also signed up for the app after finding himself in a similar position of not keeping track of his score when the time came to borrow money.
She says of using the app: ‘[I] looked at interest rates, deals – it gives you loads of peace of mind, helps you keep really motivated and get hose payments going down so your credit score goes up.’
In order to improve her rating, Suzie took out a credit card and began paying it off monthly.
She goes on: ‘Obviously, I’m over the moon when my credit score goes up, I think particularly in the financial times we’re in at the minute, being able to keep a good credit rating is really important.’
It’s time to be clear so why not let ClearScore help to provide the financial guidance you need to help improve your credit score so you can make plans, putting the power back in your hands.
How does ClearScore work?
ClearScore offers free reporting (forever, not just for a trial period) as well as personalised insights to help improve your scores.
You also receive weekly updates to provide clarity on where you stand financially to help you understand how to improve your credit score and achieve your end goals.
The app takes your credit report (a record of how you’ve managed credit in the past) and financial information from credit reporting agency Equifax, and shows it to you.
It gives you both the report and your score out of 1000 for free, making it as easy as possible for you to start improving it.
While credit scores can vary slightly depending on the credit reporting agency, the same rule follows for all scores – the higher the better.
As well as your score, you also get detailed insights into what’s affecting your score as part of your report, plus easy-to-action steps designed to help you move on up.
Click HERE to find out more.
*clearscore.com/claims
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