People urged to improve their credit rating
People who are having trouble securing loans and credit cards need to boost their credit rating as much as possible.
That's the message coming from industry experts who have examined just why some of us get refused credit.
A major problem is existing loans and credit accounts taken out before 2000 which are hard for credit card companies to examine, argues John Fitzsimons of Lovemoney. And not appearing on the electoral roll is also known to be particularly bad for your credit score.
And now companies may be examining online social networks for activity by anyone attempting to get credit. It may mean posting funny photos or posting rude comments could seriously affect your chances of getting a credit card.
One of the best ways to see just why you're being refused is to request a copy of your credit report. Do so on a regular basis and you can ensure everything is accurate and up to date.