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You Are Here: Home > Personal Finance > Credit File Help > How to estimate your Credit Rating
How to estimate your Credit Rating
Want to improve your credit rating? Consider using a low-limit Credit Card as a strategy of monthly borrowing and repaying. It works wonders. Find out more.
If you want to get a reasonably accurate estimation of your credit rating, it's not hard.

Just answer the following questions, then add your scores to see how you rate.

Are you registered to vote at your current address?

  • Yes = 10 points
  • No = 0 points
Do you have at least 2 active credit accounts, such as a credit card(s), loan(s), mobile phone contract (not Pay-as-you-go)?

  • Yes = 10 points
  • No = 0 points
Are all your payments up to date (including mortgage payments if you have one)?

  • Yes = 15 points
  • No = 0 points
Have you missed any monthly repayments over the last year?

  • Yes = 0 points
  • No = 10 points
Do you have any CCJs (within the last 6 years) or have you been declared bankrupt?

  • Yes = 0 points
  • No = 25 points
Have you ever defaulted on a credit agreement (within the last 6 years)?

  • Yes = 0 points
  • No = 25 points
Have you applied for more than 2 items of credit in the past 6 months?

  • Yes = 0 points
  • No = 5 points
How did you score?

  • 90-100 points = Excellent Credit rating - You should have no problem getting accepted for credit, plus you've got a great chance of getting the most competitive deals, ie those with the lowest interest rates. My advice: keep up the good work!

  • 70 - 89 points = Good Credit Rating - Should be no problem getting accepted but the best deals might be out of reach. My advice: read How to repair and improve your credit file

  • 50 - 69 points = Fair Credit Rating - You shouldn't have too much trouble getting accepted for credit but some lenders might refuse as they only want the highest quality customers. Or, if you are accepted the lender might demand a higher interest rate. My advice: read How to repair and improve your credit file

  • 0-49 points = Poor Credit Rating - Unfortunately it's highly likely you'll be refused most forms of credit, plus many banks won't even open a standard bank account for you. However, there are steps you can take to improve your rating so don't despair. My advice: you need to read how to repair and improve your credit rating as well as emergency credit repair strategies
FREE REPORT - How to Audit Your Credit File
With errors your rating will suffer
4 simple steps to a clean up mistakes
Don't discount the importance of your credit file - it's absolutely critical.....
Click here for the FREE Credit File report
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  • One secret to improving a credit rating is to improve your repayment history
  • Certain Credit Cards can used, most can qualify even if your credit rating is bad
  • Use them for small monthly purchases, then repay that month
  • The strategy works wonders - Read more

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