Managing your finances can be tricky at the best of times, in the current climate it can seem impossible. If the financial ebb and flow of the month leaves you struggling just before payday a credit card can be a good buffer and, if paid off before next payday, a cheap form of borrowing. Asking for a credit card or an increase in your credit limit might seem like a foolish idea at the moment, but the lenders still need to lend, so if you are a responsible borrower there should be little to worry about. Though, if you aren’t sure, or have had difficulties in the past it is best to be certain before you approach any lender. It is not well publicised, but if you apply for credit with a poor score and are declined, this can further adversely affect your credit score. The best advice would be to perfom a Credit Rating Check, then you will be aware of any problems and, if you feel there is a discrepancy, you can often amend your file though if the request is refused you can still add a ‘notice of correction’ and supporting material to your file which may have a significant bearing on any future credit applications. A single request to view your file will cost between £9-12 though several of the credit rating agencies like Equifax and Experian also offer a free trial.
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Tags: Credit Rating Check