LEEDS, UNITED KINGDOM--(Marketwired - April 25, 2013) - Although the Bank of England's £60billion Funding for Lending Scheme may be set to ease borrowing conditions for consumers in 2013(1), many lenders will still turn to your credit file when assessing how good or bad your credit risk is for products - ranging from mobile phone contracts to personal loans and mortgages.
Your credit history at a glance
Having all your credit information to hand will help to determine if there are any factors that could affect your chances of obtaining credit, as well as outlining why you may have been declined credit in the past.
Actions such as opening multiple new accounts in a short period of time or approaching your credit limit can all have a bearing on your rating, and having immediate, online unlimited access to your credit report will help you to identify if these or other issues have affected your file.
Simple ways to protect your credit rating
Restoring your credit rating may not always involve big changes. Actions such as getting on the electoral roll, making sure payments are made on time and updating or cancelling old accounts may be all that is needed to help improve your credit score.
Checking your credit report regularly
Monitoring your credit rating will help to correct any errors quickly and simply as well as helping to prevent identity theft. As credit reports are updated on a monthly basis you will have access to an accurate picture of your credit rating, and as the service is free for life you can do this for the full length of your credit history.
As an added benefit the Noddle credit report from Asda Money helps you make the most of your money with money saving vouchers and offers.
Notes to editors
1. Bank Lending Scheme progress 'encouraging' http://www.bbc.co.uk/news/business-20757899.
Asda Money is a trading name of Asda Financial Services Limited. Asda Financial Services Limited uses a selection of companies to provide its products and services. Please refer to www.ASDA.com/money for details of our product partners and the relevant terms and conditions for each of our products and services.
Founded in the 1960s, Asda today is one of Britain's leading retailers. It has over 180,000 dedicated Asda colleagues serving customers from 542 stores, including 32 Supercentres, 309 Superstores, 27 Asda Living stores, 174 Supermarkets, 25 depots and seven recycling centres across the UK. It has its main home office in Leeds, Yorkshire and its George clothing division based in Lutterworth, Leicestershire. Asda serves over 18 million shoppers a week in store and its growing home shopping business at www.asda.com serves 98 per cent of UK homes.
Its Asda Price Guarantee, launched in 2011, gives customers the reassurance that a basket of groceries will always be 10 per cent better value than competitors. Powered by MySupermarket.co.uk, the APG is the only independent, transparent online grocery price-checker in the world. Asda joined Walmart, the world's number one retailer, in 1999.