Have you recently had your credit score checked by a credit agency? Perhaps you’re applying for a mortgage or loan and getting your credit checked by a lender. At this point, you might be thinking about the factors which are likely to affect your credit score.

A large number of things can have an impact on your credit score, including high levels of debt. There are numerous other important factors, such as not being registered on the electoral roll at your current address and missing bill payments, which remains on file for six years.

Even factors like changing your address frequently and not having a home phone number can negatively affect your credit score. This is because certain lenders may regard this as a sign of an unsteady living situation.

If you find out that you have a low credit score, there are several you can do to improve it. This includes meeting monthly minimum payments on credit cards, paying all of your bills on time as well as registering on the electoral roll.

For a wide range of helpful tips on understanding your credit score and how to manage it, check out the following guide to credit scores from Sainsbury’s Bank. This useful guide explains how various organisations including lenders and utility companies use credit scores to work out if your application will be approved.

Sainsbury guide to credit scores

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