Your credit score may paint part of the picture that potential lenders assess when deciding whether to lend to you..
The credit reference agencies Lloyds Bank work with include TransUnion, Experian and Equifax. The information they hold helps us to understand your track record of using and managing credit, spanning at least 6 years.
Factors which can affect your credit score include:
- County Court Judgments (CCJs), Individual Voluntary Agreements (IVAs), and bankruptcy.
- Making multiple credit applications in a short period of time.
- A history of arrears, late payments etc.
- Not being on the electoral register.
- High levels of existing debt.
- Moving home regularly.
What affects your credit score?
It may be possible to improve your credit score over time, giving you a better chance of being approved when you apply again in future.
How to improve your credit score
