What is my credit score used for?


Your credit score is used by potential  lenders to help determine whether your application for car credit will be accepted. It is a big indicator on how well you manage your finances and the level of risk associated with lending money to you.


The higher your score, the more chance you have of being accepted for credit.



Why should I check what my credit score is?


There are plenty of reasons why you should check your credit rating.


Being aware of what your credit score is and what’s in your credit report will not only help you manage your day to day finances more efficiently, it can also help you obtain the credit you want.


Your credit report affects many parts of your life, so it should always be accurate and up to date.


You may want to access your credit report more frequently if you have been a victim of fraud in the past or if you are looking to repair or build your credit rating.


A genuine online credit checker will require you to input your details first such as your home address, bank details and other personal details.


The good thing about being able to check your credit score yourself is that you can do it as many times as you want without it having an impact on your credit record.


The ‘soft’ checks are only visible to you and the credit reference agency, potential car finance lenders won’t be able see that you’ve checked your credit rating and it will have no impact on your credit score.



Interested in finding out your credit rating?


My Car Credit have partnered with Credit Angel to provide you with access to your credit score and credit report – free of charge.



If you would like to talk to a member of our team about applying for car finance with My Car Credit, feel free to call us on 01246 458810 and we will do our best to help.



You can also read about how to check if you can get finance for a car without affecting your credit scorehere.