Applying for credit has to be one of the more anxiety-inducing activities of life, and, sadly, people often aren’t clued up on their where they stand until they’re in the process of applying for a loan.
That little number, we’re talking your credit score, can have a big effect on the outcome of any application, as lenders use it to help them decide whether you land that mortgage, credit card or car financing. Plus, it can also determine the interest rate you’re charged.
So it pays to be clear from the start.
Luckily there is a way to get clued up on your personal score, or arm yourself with the knowledge to improve it, before you jump through hoops to get credit.
ClearScore, the UK’s number one credit score and report app, aims to take the stress out of applying for credit and might be the difference between an easy process and one that keeps you up at night.
Not only does it determine your credit score, but it shares weekly updates and lets you know if anything has changed with your score so you can keep track.
One of ClearScore’s 19 million users, Liam, insists the app has changed his life ‘massively’ after finding his finances were in such a state he was forced to declare bankruptcy.
‘I was struggling,’ Liam says, before adding: ‘Taking the next step with ClearScore changed my life massively, turned it around hugely.’
Liam uses the app to see what’s available, like credit cards he can afford, for example and says that using the ClearScore has also helped dispel the stigma around being declared bankrupt.
‘The coaching on the app helped me get car finance loans and credit cards, helped me check balances and APR, everything to keep me on track,’ he says.
‘When I started using ClearScore it was a bit daunting at first, but the app is so easy to use. My credit rating grew and everything started to turn round.’
Another user, TJ, insists the service has helped boost their credit score to the point where they no longer feel anxious about the sometimes daunting application process.
He’s so confident, in fact, that he’s recommended ClearScore to all his friends, too.
‘It’s a very simple service, very easy to use,’ he says. ‘What more could you ask for? It’s free.’
TJ adds: ‘It’s helped boost my credit score to a point where applying for credit is no longer an anxious thing to do.
‘We go into it now with a lot of confidence. I put a lot of that down to the way we use ClearScore.’
Speaking about the comprehensive insight provided by the app, TJ says the weekly updates about his credit score are a game-changer and he finds it useful to keep an eye on how his score might be changing.
‘It allows us so to be almost 100% certain whether we’re going to pass for the credit or not,’ he says. ‘ClearScore’s been a real educational tool for me and has given me better awareness as to how to use credit.’
The app is clear (it’s not just a name…), calm, and easy to understand, with a vision to help everyone, no matter their circumstances, achieve greater financial wellbeing. It can provide the financial clarity you need to help improve your credit score so you can make plans for the future.
TJ says: ‘As you get older and you have your families and you have those essential needs, a house and a car, it’s beneficial to be aware of what’s on your credit file.’
When it comes to your credit score, life is better when you are clear.
How ClearScore works
ClearScore offers free reporting (forever, not just for a trial period) as well as personalised insights to help improve your scores.
You also receive weekly updates to provide clarity on where you stand financially to help you understand how to improve your credit score and achieve your end goals.
The app takes your credit report (a record of how you’ve managed credit in the past) and financial information from credit reporting agency Equifax, then uses that information to generate its own score out of 1000.
It gives you both the report and the score for free, making it as easy as possible for you to start improving it.
While credit scores can vary slightly depending on the credit reporting agency, the same rule follows for all scores – the higher the better.
As well as your score, you also get detailed insights into what’s affecting your score as part of your report, plus easy-to-action steps designed to help you move on up.
Click HERE to find out more.
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