| |
With more and more of us getting credit cards it is wise to know what lenders look at before we apply.
There are three main credit reference agencies they are Equifax, Experian and Callcredit, each of these agencies collects information on us.
When applying for a credit card your chosen lender will ask one or more of these agencies for information on you.
The information on your credit report will have details of court judgements, bankruptcies, electoral roll and most importantly it has information of your past and present credit agreements. It will also show any payments missed within the last 6 years.
This information is used to decide whether the credit card lender can offer you a card and also affects the card you are offered.
Your credit report also shows how many applications for credit you have made, it will not reveal if you were successful, but if your chosen lender feels you already have too many credit commitments they will refuse to issue you a card.
|