We are maybe perhaps not credit that is saying are really a dark art, but you will find definitely many different factors that will impact your rating. You have never ever held it’s place in financial obligation and compensated all your valuable bills on time, but that does not suggest you’ll have a good credit rating.
While your re payment history – this means it usually only accounts for around 30 to 40 per cent of your overall credit history whether you have got compensated your bills on time – gets the biggest impact in your credit score.
an extremely balance that is high one charge card is visible being a danger – the theory being that other people you’ve got may follow suit.
There’s also your ‘utilisation price’, categorised as your debt-to-limit ratio. This indicates exactly how much you may be with your credit limitations – it’s basically the ratio of one’s charge card balances contrary to the borrowing limit of these cards. Therefore even although you have not missed a repayment, a top utilisation rate may be an indicator you are vulnerable to defaulting on re payment.