Managing your Money

Everything you need to know

What is credit checking

What is a credit score

Some credit reference agencies (CRAs) use a credit score to give a simple, numerical snapshot of your credit status. Your score is figured out using information from your credit report. However, each CRA use a different method and will assess your credit score differently.

What is a credit rating?

Lenders like BrightHouse, will also work out your credit score using factors that are important to them. They’ll use the credit report from the CRA, but also your application form, and any previous dealings you’ve had with them. Again, each lender has their own method, so each will give you a different score.