Can I check my credit history and credit score?

Many people are unaware of the difference between their credit history and their credit score. Credit histories are generally accessed by lending institutions when any credit facility is applied for. It details all credit enquiries (generally from the last five years) and will list any defaults or judgements that have been made against you. Most lenders require a clear credit history (meaning no judgements or defaults), however there are some that can be lenient depending on what is listed.

A credit score refers to a score (different for each lender) in which they assess your credit-worthiness. Things that credit scoring can take into consideration are how long you have been in your employment; how often you have changed address; how many debts you have and the big one that people don’t realize – how many credit enquiries you have had recently. If your score is determined ‘low’ – your application will be automatically declined. This is one of the reasons why it is so important to use a broker rather than going to multiple lenders – if each lender lists an enquiry on your credit file in a short frame of time, many major lenders will automatically decline, even though all you were doing is shopping the loan around.

If you would like to obtain a copy of your credit history or credit score, there are several companies that you can go through. A popular one is Veda where you can either order a free copy or paid copy depending on your time frame. For more information visit: