On this episode Sarah and Georgia talk about what a credit score is, who the main credit reference agencies are in the UK, why your credit score is important and 7 ways to boost your credit rating.

KEY TAKEAWAYS

There are three UK credit reporting agencies in the UK.

Your credit score is a score which is calculated by credit reporting agencies and is meant to reflect how likely you are to repay credit on time.

Credit scores are used by potential creditors and lenders to help them decide whether to offer you credit.

Your credit score can also affect premiums you pay on insurance policies, such as home and car insurance, as well as getting a mobile phone contract.

There are easy ways to boost your credit score. We discuss 7 important things you can do to boost your credit score.

Make sure your finances aren't linked to someone with a bad credit score. If you break up with someone that you've had joint finances with, you will need to make sure you de-link your finances and contact the credit reference agencies and ask for a notice of disassociation. This will stop their credit score affecting yours in the future.

BEST MOMENTS

'I've asked Georgia, what is the average credit score in the UK?'

'It's good to get those insights.'

'There are some jobs that require pre-employment credit checks.'

'It keeps me on my toes.'

ABOUT THE HOSTS

Sarah is a Chartered Financial Adviser and Certified Financial Coach and Georgia is a Senior Paraplanner. Together, they have over 20 years experience in financial services and are on a mission to educate others about money in a fun and non-jargon way. They will help you master your finances and money mindset so that you feel more confident with money and the decisions you make around money. They talk all things money from investments, pensions and benefits to your mindset around money and steps you can take to improve your relationship with money. They aim to make it fun, educational and are with you every step of the way. Together, you've got this!

The information given in this podcast is for your entertainment and should not be construed as financial advice. No liability can be accepted for any individuals relying on this information without seeking specific advice and guidance. As always, take independent financial advice before making any investment decisions. Our discussions are based on tax and legislation in England which may change.

⭐CONTACT METHOD⭐

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