UK Money News
16th April 2008
Brits unsure of credit score
Millions of Britons are blissfully unaware of their credit worthiness despite the increasing difficulty they are likely to face this year in securing credit, a new study has shown.
According to a study conducted by moneysupermarket.com, some 47 per cent of Britons have never checked their credit report.
Meanwhile, one in six is so oblivious to the importance of their credit score in the current financial climate that they have no intention of checking it this year.
Tim Moss, head of debt at the site, said: "You need to see what is on your credit report so any errors can be corrected and to see if someone else is perhaps trying to take your identity.
"It will also highlight any tiny debts that might be there, but are having a huge impact on the success or failure of credit applications."
He continued: "An error on your report could typically lead to mortgages being rejected, or you being offered a product but at a much higher interest rate."
The strange sense of priority of those polled was also revealed by the survey with the weather in a foreign country named as the thing that Britons check most often, followed by horoscopes
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