- APR - The annual percentage rate is the price you pay each year for money you’ve borrowed, including interest and fees. The representative APR is an advertised rate that a minimum percentage of customers will pay, usually 51% of those accepted. If you’re not given the advertised rate, you’ll get a personal APR.
- Balance Transfer – This is when you choose to move credit card debt you already have to a lower or 0% interest credit card balance, usually for a transfer fee. With a 0% balance transfer deal you can potentially give yourself longer to pay off an existing credit card debt, without having to pay interest. This is as long as you make the minimum monthly payment and stick to any other Ts and Cs. More about balance transfer cards here
- Continue reading
How well do you know yourself? We decided to try and find out, one day last month in Nottingham.
And it turns out that while there’s a lot we do know about ourselves, one thing not many of us know is our credit score.
We set up a booth where people could pop in and answer some simple questions in our quiz – but one question above all foxed them. Watch the video to find out how and why!
These two imports from the USA – the Friday after Thanksgiving and the Monday that follows – combine heavily discounted ‘physical’ shopping ins-store with widespread online deals.
And now Amazon.co.uk are beginning their Black Friday over a week earlier than the ‘official’ day, by featuring special offers online on large-ticket and luxury products every day now until 25 November.
A Clinton win had been on the cards for some time, but Trump’s victory surprised many all over the world.
Before election day
After she was cleared earlier in the week by the FBI of criminal wrongdoing with regard to emails, the dollar immediately rose in value, with US markets easing back on risk-aversion measures. Continue reading
What’s your Experian Credit Score? We wanted to see if there were any significant differences in the average Experian Credit Score in different UK cities – from a variety of locations.
The Experian Credit Score runs from 0-999, and usually a higher score means you’re seen as lower risk, which means you could be more likely to get a credit card, a loan or a mortgage, and at better rates too.
You may have seen some of our posters beside major roads, or if you’re in London, on tube platforms. If you have, I hope you saw your local area listed!
We looked at the average Experian Credit Score in ten of the largest local authority areas outside of London, based on Experian customers who joined between January and September 2016. Continue reading
Most of us spend more in the immediate approach to and during the festive period than we normally would, so it’s probably a good idea to budget in advance and put some money aside – so that come mid-December, you don’t have to dig too much into money you either don’t have, or money you’re going to need in January.
Here are five things that might be worth thinking about:
- Christmas is a prime time for buying things that are either unwanted, don’t work properly or don’t fit. But… buying on credit can give you protection. If you buy goods or services on your credit card, you have extra protection if things go wrong, compared with paying by cash or even debit card, under section 75 of the Consumer Credit Act. Continue reading
Every month Experian’s James Jones answers a selection of your questions about credit and fraud in his ‘ask the experts’ style column here.
Sultana from Ilford wants to register her 17-year-old for a credit report but is unable to – James explains why this is so, and what they can do next.
Bianca from Tunbridge Wells wants to know if her library fine will affect her credit score, while Alan from York has a row of U’s on his credit report and asks Will the status code U on my credit report damage my score?
Anne-Marie from Newcastle-under-Lyme has this question: Can changing bank accounts have an effect on my credit score?, as she wants to apply for car finance later in the year.
You can find more Ask James questions answered in our Ask James archive. If you have a specific question and can’t find an answer here or you wish to contact us to query something on your credit report, please contact us – find all the ways you can contact us here.
A good credit score
A “good” credit score depends on the scoring system used by your particular lender – there’s no one credit score or magic number – different lenders score differently.
However, if you have a good credit score from one of the main credit reporting agencies such as Experian, you are likely to have a good credit score with your lender.
- The Experian Credit Score runs from 0-999 and is an indication of how lenders may view you.
- It is based on the information in your Experian Credit Report
- The higher your score, the greater the chance you have of getting the best credit deals
To get your Experian Credit Score FREE forever, sign up to CreditMatcher, a free independent service that helps you compare credit deals you’re more likely to get, based on your credit information. We are a credit broker not a lender, working with selected lenders.†*
The cat’s out of the bag – for the first time, the UK’s most trusted credit score* is now free, for everyone**, forever.
That’s right – the Experian Credit Score, which shows you how lenders may view you, and can be a useful thing to know when you are thinking of applying for credit.
To get your Experian Credit Score FREE forever, sign up to our new CreditMatcher, a free independent service that helps you compare credit deals you’re more likely to get, based on your credit information.
We are a credit broker not a lender, working with selected lenders.
From 1 September, all new cars for the next six months now have the new 66 number plate.
Britons bought more new cars than ever before in 2015 – over 2.5 million, and many predict that 2016 could end up seeing an even higher total as motorists try to avoid car tax reforms set for next April.
Car finance is one of the most common examples of how we pay for ‘large ticket’ items, and a good credit rating can be the difference between getting a good interest rate or not, or sometimes getting any deal at all.
Applying for a loan
If you’re planning on a car finance loan, it’s a good idea to check your Experian Credit Report before you make the application. This allows you to see what the lender would use about you, and gives you the chance to correct any inaccuracies and update any out-of date information. The credit score the lender gives you helps them decide whether to accept you as a customer or not – usually, the higher your credit score, the better your chance of getting your loan.