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  • Your repayment record
  • Number of arrears, defaults and missed payments you had
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    What is a credit check?

    When you apply for a loan, credit card, store card or mortgage, the lender will conduct a credit check before approving your application. To define, a credit check is the process of judging the creditworthiness of the borrower by reviewing his credit repayment history. The lender basically examines the borrower’s capability to abide to their financial responsibilities. A credit check gives assurance to the creditor that the lender will repay his loan regularly.

    What things are taken into account while performing a credit check?

    While performing a credit check, the lender will give you points on the following details.

  • Your employment status
  • Number of years you have lived in your current house
  • Your credit card details
  • Your income details
  • Other loans you have availed
  • Your repayment record
  • Number of arrears, defaults and missed payments you had
  • If you have any CCJ regist
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    heck is the process of judging the creditworthiness of the borrower by reviewing his credit repayment history. The lender basically examines the borrower’s capability to abide to their financial responsibilities. A credit check gives assurance to the creditor that the lender will repay his loan regularly.

    What things are taken into account while performing a credit check?

    While performing a credit check, the lender will give you points on the following details.

  • Your employment status
  • Number of years you have lived in your current house
  • Your credit card details
  • Your income details
  • Other loans you have availed
  • Your repayment record
  • Number of arrears, defaults and missed payments you had
  • If you have any CCJ regist
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    esponsibilities. A credit check gives assurance to the creditor that the lender will repay his loan regularly.

    What things are taken into account while performing a credit check?

    While performing a credit check, the lender will give you points on the following details.

  • Your employment status
  • Number of years you have lived in your current house
  • Your credit card details
  • Your income details
  • Other loans you have availed
  • Your repayment record
  • Number of arrears, defaults and missed payments you had
  • If you have any CCJ regist
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    p>While performing a credit check, the lender will give you points on the following details.

  • Your employment status
  • Number of years you have lived in your current house
  • Your credit card details
  • Your income details
  • Other loans you have availed
  • Your repayment record
  • Number of arrears, defaults and missed payments you had
  • If you have any CCJ regist
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    edit card details
  • Your income details
  • Other loans you have availed
  • Your repayment record
  • Number of arrears, defaults and missed payments you had
  • If you have any CCJ registered against you
  • Have you ever been declared a bankruptcy
  • After evaluating all this, the lender will make your credit report, mentioning your credit score according to his parameters.

    How important is a credit score in case of unsecured loans?

    An unsecured loan, by its very definition, is a loan without security, based entirely on the character and capacity of the borrower to repay. The capacity is judged by the credit score of the borrower. Borrowers are not required to pledge his home as security in the case of an unsecured personal loan deal. So, the lender assures himself by valuating the repayment history of the borrower.

    Better the credit

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