When you make an application for credit, Lenders will look at various factors before making their decision.
The information that is used when deciding can vary from lender to lender but typical information that is looked at is:
- Amount of open credit accounts
- The age of your accounts
- Credit limits
- Missed payments
- Applications for credit within a short period
- Total outstanding debt and the credit utilisation
- County Court Judgements
- Your ability to manage your credit
Lenders will also look at your personal details and perform some fraud prevention checks.
For a full breakdown of what impacts your Credit Report, see our guide on understanding your Credit Score.