Personal loan or a credit card

Have you ever been turned down for a personal loan or a credit card? Beyond the fact that being denied a line of credit or personal loan is tremendously embarrassing lies a simple credit checking process that may or may not be skewed in your favour.

When banks turn down applications for credit, they simply send a note stating that you did not meet their requirements. But, what are their requirements? And, how close were you to meeting them? These questions can only be answered with a look at your credit ratings report.

When you apply for a loan, the financial institution you applied to receives a numerical score for your credit from one or all of the three major United Kingdom credit-reporting companies.

You are never shown results of their report. But, you can purchase your own copy of your credit report and examine it thoroughly for errors and room for improvement. To arrange a personal credit rating check, you will need to visit creditchoices.co.uk. Known for their helpful information and personal finance tools such as their free online savings calculator, Credit Choices will help you arrange to see your credit report from one or all three of the United Kingdom credit reporting agencies.

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