Ever been refused a credit card and don’t know why? It could be one of a number of details about your financial history that are tracked and recorded by credit reference agencies to help lenders assess you for credit. Credit ratings can be affected by anything from the basics – such as your history of repaying debt – to the finer details such as whether you own a fixed-line telephone. Being refused credit can affect your future rating so it could be worth getting a breakdown of your score before you apply for a mortgage, loan or credit card.

What is my credit score based on?
Your credit rating is based on a range of information about your financial history. It takes into account how you have handled credit in the past and how much debt you have. Agencies usually hold files going back around six years, although some information – such as bankruptcy filings – can be held for longer.