How credit is calculated

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How is credit calculated?

Your credit score is based on your credit history.
CCJs, missed payments, having very little credit history or being new to credit will affect your score.
A Vanquis Visa Card can help improve your credit score.

How is my credit rating calculated?

Whenever you apply for credit, the credit card company or high street store will probably check your credit score using information from a credit reference agency like Experian, Equifax, or Call Credit. They give you a credit score using a points system based on your credit history. If you get a low credit score, you may have trouble obtaining credit.

How did I get a bad credit score?

A bad credit score results from a bad credit history. This could include any of the following:

County Court Judgements.
Missed payments on borrowings.
Being new to credit, so having no credit history.
Not being on the electoral roll.
Giving false details on your credit applications.

What can I do about a bad credit score?

If a lender turns you down for credit, ask them which agency they used to find out your score and write to them. The credit reference agency has to reply within seven days. Wrong information can be removed.

Or check your credit rating with a free credit report from Experian by filling out your details below.

If you have a genuine bad credit history then the next step is to rebuild your credit score. Our Vanquis Visa Card could be a great help. See how to improve your credit rating here.

Build your credit with a Vanquis Bank Card

You'll start with an easy to manage credit limit between £150 and £1,000.
You could get a Credit Limit increase on your 4th statement. Conditions apply see below*
And further increases every 4 months, up to £3,000. Conditions apply see below*
A friendly UK Customer Service call centre.
Online and SMS Account Management.

Representative 39.9% APR (variable)

* To be considered for a credit limit increase, please keep all your credit agreements in order by paying on time, making use of your existing credit limit without going over your limit, and not taking on too much debt elsewhere. This is only a guide and meeting these criteria does not guarantee you a credit limit increase.

Important: Credit is subject to: status; telephone contact; confirmation of name and address; not already holding a credit card issued by Vanquis Bank; no reasonable suspicion of fraud, and is only available to UK residents who are at least 18 years of age and are not legally restricted from obtaining credit e.g.because of bankruptcy. Please read the Summary Box and Terms and Conditions for full financial details.

Vanquis Visa Card is issued by Vanquis Bank Limited. Vanquis Bank can be contacted at its registered office, which is at No. 1 Godwin Street, Bradford, West Yorkshire BD1 2SU. Registered number 02558509 England. Consumer Credit licence number 532364. VAT number 180555952. Vanquis Bank Limited is authorised and regulated by the Financial Services Authority.