What factors affect my credit score?

Several factors can impact your credit score in the UK. Firstly, your payment history is crucial, as consistently paying bills on time positively influences your score. The amount of credit you currently owe and the overall utilization of your available credit are also taken into account. Applying for multiple forms of credit within a short period may be seen as a red flag. The length of your credit history plays a role, with longer histories generally seen as more positive. The types of credit you use, such as mortgages or credit cards, also have an impact. Public records, including bankruptcies or court judgments, can significantly damage your score. Lastly, the number of recent credit inquiries or new accounts added can affect your creditworthiness. Therefore, it is essential to manage these factors responsibly to maintain and improve your credit score in the UK.