No Such Thing As Credit Blacklist Or Universal Ratings

July 10th, 2009

I have often thought that there must be a universal credit blacklist or a certain credit rating that is either good or bad. However after looking more deeply into it it seems that that is not the case. Each lender scores differently, although the information they use is similar. A bad risk for one lender is often a bad risk for others too. However that isn’t always the case as you’ll be given a different credit rating by each of the three credit agencies that operate in the UK. One slight comfort is the fact that lenders use that credit score as just one part of their decision to lend, and each lender will look at some other factors as well when making any decision.

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Entry Filed under: Business

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