Free Credit Score Check & Guide 

Having an arranged overdraft is unlikely to affect your credit score but the way you use your overdraft can have an impact on your credit rating.

If you have an arranged overdraft that you rarely dip into or clear the balance when you get paid each month, this shouldn't harm your score. However, if you have an unauthorised overdraft or incur charges for not paying back your overdraft, this could demonstrate to potential lenders that you struggle to manage your finances and may be a risky candidate for credit.

This depends on where the money used for gambling is coming from. Gambling activity itself does not show up on your credit report or impact your credit history.

However, if you were to take out payday loans or cash advances to spend on recreational gambling, this could have a negative impact on your financial health and, should you miss repayments, your credit score.

Applying for a new credit card for a balance transfer typically results in a temporary credit score dip. However, by successfully managing your consolidated debt and paying it off promptly, you can potentially improve your credit score in the long run.

Claiming Universal Credit won’t impact your credit score.

Your credit score reflects your borrowing history, debts and repayment record. As Universal Credit is considered part of your income, it won’t appear on your credit report and therefore won’t affect your score.

Unlike other loans and financial products for borrowing money, student loans do not appear on your credit report and, as a result, your credit score is not affected by them.

It's worth remembering that missing your student loan repayments can harm your credit score, though.

You should be careful not to close your oldest account, which could affect your score. But as long as you have repaid any outstanding overdrafts on your previous account, opening a new current account shouldn’t impact your credit rating.

Additionally, most banks will have to perform a 'hard credit check' when you apply for an account with them. These checks will appear on your credit report and influence your score.

Checking your credit score is the first step you can take to improve it. This, in turn, can help boost your chances of getting approved to borrow money, and even help you get better rates. 

On top of that, checking your credit report allows you to quickly spot signs of identity theft, such as unknown accounts being opened in your name.

If you find incorrect information, you should dispute it directly with the Credit Reference Agency (CRA) that holds the data. The CRA will then launch an investigation with the original lender to verify the information. If the data is found to be wrong, it will be corrected or removed from your file.

It’s possible to borrow with a low credit score, but not guaranteed. Read more about loans for bad credit scores and cards for bad credit scores.

There is no single minimum credit score required for a mortgage, as every lender uses its own criteria and scoring system.

A higher score (typically in the ‘Good’ or ‘Excellent’ range) increases your chances of approval and helps you access the most competitive interest rates, while a lower score may result in fewer options, higher interest rates, or a requirement for a larger deposit.

There is no definitive number when it comes to what credit score is required to purchase a new car. The credit requirements can vary from lender to lender, each using its own policies to evaluate your financial health based on your credit report.

As with any loan, the higher your credit score, the more likely you are to have your credit application approved. However, if you are applying to purchase a car using finance, you should find that you are still able to obtain the loan you need, even with a low credit score.