Why check your Credit Report

• Be more aware of what lenders may see.
• Detect any inaccurate or incomplete information.
• Keep your credit healthy by alerting you to potential problems early.
• Detect and dispute errors.

It is important to be aware of your Credit Score when applying for finance, the credit score may have an impact on the number of potential lenders applicable. In saying that some lenders do not have a minimum score requirement and base their assessment on an overall profile.

Typically, but not always, the higher the credit score the more lenders available and better interest rates are offered, the lower the credit score the least amount of potential lenders applicable and higher interest rates offered.

There are many variables throughout the application & assessment process, it is a good idea to use a Finance Broker to avoid applying to lenders where your profile does not meet their criteria, resulting in a lender decline and credit enquiry on your credit report and possible reduction in credit score.